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476 Karra Ct Chula Vista, CA 91910

3 Beds 3 Baths 1,619 sqft Built 1992

$649,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $401.42
  • 3 Days on Market
  • MLS # : 200051594
  • Updated Date : 11/13/2020 at 20:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,619 sqft
  • Baths : 2 full , 1 half
Listing Agent

San Diego Bienes Raices

Listing Agent's Description

Beautiful home in Terranova located on a cul-de-sac, no mello roos. Dual pane windows, including kitchen exterior sliding door. New front door with glass, new garage door and exterior garage side door. New fence around the property and gates. New AC unit, furnace & all new vents. Garage has drywall and insulated walls finish with texture & paint. Close to Private Park and Community Pool.

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: Terra Nova

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k612k

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

Neighborhood: Terra Nova

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $15143016

* 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
Clear View Elementary School Primary Regular 500 22 9
Clear View Elementary School Middle Regular 500 22 9
Bonita Vista High School High Regular 2,487 88 8

Clear View Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 22
9
GreatSchools Rating

Clear View Elementary School

  • Education Level: Middle
  • # of students: 500
  • # of teachers: 22
9
GreatSchools Rating

Bonita Vista High School

  • Education Level: High
  • # of students: 2,487
  • # of teachers: 88
8
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,398
Property Tax -$635
Property Insurance -$68
HOA -$112
Property Management Fees -$129
CASH FLOW
-$682

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.

$649,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.2%
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$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $2,667

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,6004$2,6605$2,795
$2,795
RENT COMPS ANALYSIS
  • 476 Karra Ct Chula Vista, CA 4
    • 3 beds 3 baths ∙ 1,619 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,619 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.64
    •  
  • 337 Windjammer Cir Chula Vista, CA 1
    • 3 beds 3 baths ∙ 1,469 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,469 Sqft ∙ Built 1985
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.70
    •  
  • 409 Sanibelle Circle #55 Chula Vista, CA 2
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1994
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.59
    •  
  • 494 Belle Vista Dr #229 Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1994
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.66
    •  
  • 695 Cazorla Ave Chula Vista, CA 5
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 1996
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.64
    •  
PROPERTY LISTING DETAILS
Marisela Martinez
1.619.793.4929
San Diego Bienes Raices
BESbswy