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327 Corte Goleta Chula Vista, CA 91914

4 Beds 4 Baths 2,648 sqft Built 2004

$759,000

List Price

$3,390

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $286.63
  • 2 Days on Market
  • MLS # : 200053368
  • Updated Date : 12/06/2020 at 00:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,648 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max United

Listing Agent's Description

Beautiful San Miguel Ranch home features four bedrooms, with one full bedroom & bath on first floor & owned solar! This upgraded home has tile and wood in living areas & newer carpet in bedrooms. The spacious kitchen has granite counter tops and stainless steel appliances. Bathrooms are updated with corian counter tops & new lighting. The backyard is excellent for entertaining with built in BBQ, lighting, fruit trees & plenty of extra room! Close to restaurants, freeways, shopping, trails, schools & more.

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
 

$683,100$834,900$759,000

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$2,800
Property Tax -$876
Property Insurance -$94
HOA -$145
Property Management Fees -$129
CASH FLOW
-$654

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.

$759,000

PROJECTED PRICE

$3,390

PROJECTED RENT

0.45%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$206,885

INVESTMENT

$206,885

Down Payment
$189,750
Rehab Estimate
$5,750
Closing Costs
$11,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,800

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $189,750
Loan Amount $569,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$16,189

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
  • $3,389

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,3004$3,500
$3,500
RENT COMPS ANALYSIS
  • 327 Corte Goleta Chula Vista, CA 1
    • 4 beds 4 baths ∙ 2,648 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,648 Sqft ∙ Built 2004
    property image
    • 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
    property image
    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
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.29
    •  
  • 516 Bent Trail Dr Chula Vista, CA 4
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2004
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Jill Vodicka
1.619.623.5345
Re/max United
BESbswy