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2738 Joshua Creek Rd Chula Vista, CA 91914

4 Beds 4 Baths 3,005 sqft Built 2004

$929,900

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $309.45
  • 2 Days on Market
  • MLS # : 200054953
  • Updated Date : 01/02/2021 at 19:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,005 sqft
  • Baths : 3 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

SINGLE STORY PROPERTY IN THE WOODS!!! This beautiful recently painted home, with brand new floors, is a 4 bedroom and 3.5 bath and 3005 sqft of living space, with a large Master-bedroom and a Junior Suite with full bathroom. Large walk-in closet, Jack and Jill bathroom dividing the other 2 rooms, large formal dinning area with large kitchen and Family room. Home has Solar Panels for efficiency, and artificial turf in the front yard. Home is Located in a Cul-De-Sac in a quiet neighborhood. Come Home!

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Eastlake Woods

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $236k1070k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Eastlake Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2200025003000350040004500Rent in $15524755

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Salt Creek Elementary School Primary Regular 978 40 10
Salt Creek Elementary School Middle Regular 978 40 10
Eastlake High School High Regular 3,079 106 9

Salt Creek Elementary School

  • Education Level: Primary
  • # of students: 978
  • # of teachers: 40
10
GreatSchools Rating

Salt Creek Elementary School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 40
10
GreatSchools Rating

Eastlake High School

  • Education Level: High
  • # of students: 3,079
  • # of teachers: 106
9
GreatSchools Rating
 

$836,910$1,022,890$929,900

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$3,431
Property Tax -$1,120
Property Insurance -$103
HOA -$100
Property Management Fees -$129
CASH FLOW
-$1,083

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$929,900

PROJECTED PRICE

$3,800

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$252,174

INVESTMENT

$252,174

Down Payment
$232,475
Rehab Estimate
$5,750
Closing Costs
$13,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $232,475
Loan Amount $697,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$6,528

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,806

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,8004$4,000
$4,000
RENT COMPS ANALYSIS
  • 2738 Joshua Creek Rd Chula Vista, CA 1
    • 4 beds 4 baths ∙ 3,005 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,005 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 516 Bent Trail Dr Chula Vista, CA 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.25
    •  
  • 2837 Castlewood Ct Chula Vista, CA 3
    • 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.26
    •  
  • 2792 Rambling Vistas Rd Chula Vista, CA 4
    • 5 beds 4 baths ∙ 3,096 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,096 Sqft ∙ Built 2005
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.29
    •  
PROPERTY LISTING DETAILS
Carlos Rodrigues
1.619.865.1300
Berkshire Hathaway Homeservice
BESbswy