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

484 Naples Chula Vista, CA 91911

3 Beds 2 Baths 1,726 sqft Built 1953

$400,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $231.75
  • 4 Days on Market
  • MLS # : 200052103
  • Updated Date : 11/19/2020 at 23:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,726 sqft
  • Baths : 2 full
Listing Agent

Gnt Financial Services

Listing Agent's Description

OWNERS NEVER LIVED IN PROPERTY may have squatter on-site, not previous tenant or owner CASH ONLY All information to be verified by buyer

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: Harborside

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Harborside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12632926

* 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
Rice, Lilian J Elementary School Primary Regular 636 28 6
Rice, Lilian J Elementary School Middle Regular 636 28 6
Chula Vista High School High Magnet 2,679 94 5

Rice, Lilian J Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 28
6
GreatSchools Rating

Rice, Lilian J Elementary School

  • Education Level: Middle
  • # of students: 636
  • # of teachers: 28
6
GreatSchools Rating

Chula Vista High School

  • Education Level: High
  • # of students: 2,679
  • # of teachers: 94
5
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,476
Property Tax -$431
Property Insurance -$71
Property Management Fees -$129
CASH FLOW
$463

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.

$400,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$96,762

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
  • $2,888

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,7004$2,850
$2,850
RENT COMPS ANALYSIS
  • 484 Naples Chula Vista, CA 1
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1953
    • 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
    •  
  • 622 Dennis Ave. Chula Vista, CA 3
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1960
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.58
    •  
  • 1576 Larkhaven Dr. Chula Vista, CA 4
    • 4 beds 2 baths ∙ 1,395 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,395 Sqft ∙ Built 1970
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.04
    •  
PROPERTY LISTING DETAILS
Hollie Carter
1.619.921.2685
Gnt Financial Services
BESbswy