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465 Inkopah Street Chula Vista, CA 91911

3 Beds 2 Baths 1,232 sqft Built 1961

$540,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $438.31
  • 3 Days on Market
  • MLS # : 200052701
  • Updated Date : 11/27/2020 at 21:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Sd Metro

Listing Agent's Description

Welcome to this great starter home in Chula Vista. This 3bd/2ba home is located close to easy freeway access, shopping and restaurants, and is perfect for a family looking for their first home. The large lot with open backyard and covered patio has plenty of space for a family to grow and play, and is nestled in a safe and quiet neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greg Rogers

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $210k594k

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

Neighborhood: Greg Rogers

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13292926

* 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
Rogers Elementary School Primary Regular 472 23 6
Rogers Elementary School Middle Regular 472 23 6
Hilltop High School High Magnet 2,174 80 7

Rogers Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 23
6
GreatSchools Rating

Rogers Elementary School

  • Education Level: Middle
  • # of students: 472
  • # of teachers: 23
6
GreatSchools Rating

Hilltop High School

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

$486,000$594,000$540,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,992
Property Tax -$511
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
-$581

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.

$540,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$7,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $2,045

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,2003$2,350
$2,350
RENT COMPS ANALYSIS
  • 465 Inkopah Street Chula Vista, CA 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.71
    •  
  • 575 Fifield Street Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1965
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.64
    •  
  • 1065 Cuyamaca Ave Chula Vista, CA 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1955
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.68
    •  
PROPERTY LISTING DETAILS
John Summerfruit
1.619.850.5390
Keller Williams Sd Metro
BESbswy