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503 Beacon Pl. Chula Vista, CA 91910

5 Beds 3 Baths 3,269 sqft Built 1986

$949,000

List Price

$3,840

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $290.30
  • 10 Days on Market
  • MLS # : 200053845
  • Updated Date : 12/18/2020 at 14:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,269 sqft
  • Baths : 2 full , 1 half
Listing Agent

Basa Realty And Mortgage

Listing Agent's Description

Welcome Home to this Terra Nova Beauty! Highly desirable home with easy freeway access in a well maintained neighborhood. Home features a large floorplan with 5 bedrooms and optional room. Very nice kitchen with granite countertops and stainless steel appliances. Features large bedrooms including a true master bedroom retreat. This property has excellent curb appeal and a very inviting backyard for those family gatherings. No Neighbor behind property. Did I mention no HOA and No Mello Roos?

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: 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
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$3,501
Property Tax -$928
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
-$828

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.

$949,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.40%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$23,371

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
  • $4,119

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,300
$4,300
RENT COMPS ANALYSIS
  • 503 Beacon Pl. Chula Vista, CA 1
    • 5 beds 3 baths ∙ 3,269 Sqft ∙ Built 1986 5 beds 3 baths ∙ 3,269 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 463 Acero Place Chula Vista, CA 2
    • 4 beds 3 baths ∙ 3,412 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,412 Sqft ∙ Built 1995
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.26
    •  
PROPERTY LISTING DETAILS
Raul Garcia
1.619.646.8940
Basa Realty And Mortgage
BESbswy