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316 Corte Goleta Chula Vista, CA 91914

4 Beds 3 Baths 2,430 sqft Built 2004

$744,900

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $306.54
  • 4 Days on Market
  • MLS # : 200051514
  • Updated Date : 11/13/2020 at 19:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,430 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Live in the beautiful community of San Miguel Ranch! This Home is your dream come true! Equipped with 10.4 kw solar system, 3 yr 5 ton HVAC 2 zones, newer furnace and turf. The kitchen will AMAZE you with its large island, beautiful granite countertops, butlers station and cupboard's, cupboards cupboards! A large 3 car garage, fireplace, tiled floors throughout most of the lower level, 1 bedroom and full bath downstairs. Low maintenance front yard and backyard with stamped concrete and turf!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: San Miguel Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k747k

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

Neighborhood: San Miguel Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000320034003600Rent in $15523623

* 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
Liberty Elementary School Primary Regular 737 31 9
Eastlake Middle School Middle Regular 1,711 64 9
Eastlake High School High Regular 3,079 106 9

Liberty Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 31
9
GreatSchools Rating

Eastlake Middle School

  • Education Level: Middle
  • # of students: 1,711
  • # of teachers: 64
9
GreatSchools Rating

Eastlake High School

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

$670,410$819,390$744,900

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$2,748
Property Tax -$860
Property Insurance -$88
HOA -$147
Property Management Fees -$129
CASH FLOW
-$822

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.

$744,900

PROJECTED PRICE

$3,150

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$203,149

INVESTMENT

$203,149

Down Payment
$186,225
Rehab Estimate
$5,750
Closing Costs
$11,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,748

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $186,225
Loan Amount $558,675
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,764

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
  • $3,264

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,3004$3,795
$3,795
RENT COMPS ANALYSIS
  • 316 Corte Goleta Chula Vista, CA 1
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2089 Chateau Ct. Chula Vista, CA 2
    • 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2000
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.30
    •  
  • 303 Avenida Marlina Chula Vista, CA 3
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 2005
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.29
    •  
  • 721 Crooked Path Pl. Chula Vista, CA 4
    • 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.44
    •  
PROPERTY LISTING DETAILS
Kim Sulu
1.619.200.3035
Keller Williams Realty
BESbswy