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317 Quail Pl Chula Vista, CA 91911

4 Beds 3 Baths 2,048 sqft Built 1965

$650,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $317.38
  • 7 Days on Market
  • MLS # : 200055023
  • Updated Date : 01/09/2021 at 21:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,048 sqft
  • Baths : 3 full
Listing Agent

Cfl Realty

Listing Agent's Description

Must See!! Home is located in the heart of Chula Vista near 805 freeway close to schools, shopping center, parks. The lot on this home extends into the canyon with so much potential. It offers an open floor plan. One large master bedroom upstairs with its own bathroom entrance if needed, fruit trees. Perfect for a large family.

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: Castle Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Castle Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12522926

* 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
Palomar Elementary School Primary Regular 389 18 7
Palomar Elementary School Middle Regular 389 18 7
Castle Park High School High Regular 1,474 60 4

Palomar Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 18
7
GreatSchools Rating

Palomar Elementary School

  • Education Level: Middle
  • # of students: 389
  • # of teachers: 18
7
GreatSchools Rating

Castle Park High School

  • Education Level: High
  • # of students: 1,474
  • # of teachers: 60
4
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,258
Property Tax -$619
Property Insurance -$79
Property Management Fees -$129
CASH FLOW
-$104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$650,000

PROJECTED PRICE

$2,980

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$47,597

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
  • $2,915

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,9004$3,000
$3,000
RENT COMPS ANALYSIS
  • 317 Quail Pl Chula Vista, CA 1
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1485 Hilltop Dr Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1967
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.40
    •  
  • 431 Sparrow Chula Vista, CA 3
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1978
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.44
    •  
  • 207 E J St Chula Vista, CA 4
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1964
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
PROPERTY LISTING DETAILS
Maria Hernandez
1.619.843.4625
Cfl Realty
BESbswy