Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

361 Minot Chula Vista, CA 91910

4 Beds 2 Baths 1,858 sqft Built 1956

$689,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $370.83
  • 5 Days on Market
  • MLS # : 210004899
  • Updated Date : 02/26/2021 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,858 sqft
  • Baths : 2 full
Listing Agent

Re/max United

Listing Agent's Description

Beautiful 5 bedroom home with white picket fence around the front yard! Cozy front porch to sit and enjoy the afternoon sun! Dining area for family to eat meals together. 5 bedrooms, one has been used as an office. En- Suite Master Bedroom with walk-in closet. Open concept home with spacious, bright, airy kitchen with an eat-in counter and skylight! Wood burning or gas fireplace in living room. Original hardwood flooring. Stainless steel refrigerator conveying. Gas stove top and furnace. Oven replaced October 2020. Newly installed whole house fan, August 2020. New furnace, September 2020. Gas water heater (2013). Automatic sprinklers, in both front yard and fully fenced-in back yard. Quiet neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $218k594k

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

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13762926

* 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
Hilltop Middle School Middle Magnet 1,132 44 4
Hilltop High School High Magnet 2,174 80 7

Hilltop Middle School

  • Education Level: Middle
  • # of students: 1,132
  • # of teachers: 44
4
GreatSchools Rating

Hilltop High School

  • Education Level: High
  • # of students: 2,174
  • # of teachers: 80
7
GreatSchools Rating
 

$620,100$757,900$689,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,393
Property Tax -$652
Property Insurance -$74
Property Management Fees -$129
CASH FLOW
-$628

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$689,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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

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$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,393

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,726

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
  • $2,576

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$3,0004$3,150
$3,150
RENT COMPS ANALYSIS
  • 361 Minot Chula Vista, CA 1
    • 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 77 Flower St Chula Vista, CA 2
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1960
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.30
    •  
  • 207 E J St Chula Vista, CA 3
    • 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
    •  
  • 4435 Vista Coronado Chula Vista, CA 4
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1956
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.43
    •  
PROPERTY LISTING DETAILS
Emily Zack
1.858.603.2722
Re/max United
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004899
Last Updated: 02/26/2021
BESbswy