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514 Ocean Breeze Way Chula Vista, CA 91914

4 Beds 3 Baths 2,430 sqft Built 1998

INVESTimate

$775,000

List Price

$3,120

$2,870 - $3,370

Rent Est.

$840,720  ( +8.48%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $318.93
  • 10 Days on Market
  • MLS # : 200039717
  • Updated Date : 08/24/2020 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,430 sqft
  • Baths : 2 full , 1 half
Listing Agent

Yavorsky Properties Of Bonita

Listing Agent's Description

No Mello Roos, No HOA fees, freshly painted outside with professional hardscape landscaping with private pool w/Spa, child gate, all views to the west and Downtown and Ocean. Large deck to complete open yard and views. Upgraded plank laminate flooring and tile, no carpet. Pantry in kitchen, huge family room with nook, formal dining room, inside laundry room, walk in closet in Main bedroom, oversized bathroom/vanity/tub and separate shower. 3 car garage, cul de sac. All bedrooms on 2nd floor. Solar system

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MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Eastlake

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $203k594k

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

Neighborhood: Eastlake

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15142959

* 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
Liberty Elementary School Primary Regular 737 31 9
Eastlake Middle School Middle Regular 1,711 64 9
Eastlake High School High Regular 3,079 106 9

Liberty Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 31
9
GreatSchools Rating

Eastlake Middle School

  • Education Level: Middle
  • # of students: 1,711
  • # of teachers: 64
9
GreatSchools Rating

Eastlake High School

  • Education Level: High
  • # of students: 3,079
  • # of teachers: 106
9
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,859
Property Tax -$724
Property Insurance -$88
Property Management Fees -$129
CASH FLOW
-$681

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.

$775,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 8.48%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$19,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $3,167

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$3,120
1$3,1202$3,2003$3,2004$3,300
$3,300
RENT COMPS ANALYSIS
  • 514 Ocean Breeze Way Chula Vista, 1
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $1.28
    •  
  • 926 Lafayette Pl Chula Vista, 2
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2000
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.30
    •  
  • 5945 Pathfinder Way Bonita, 3
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 1978
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.32
    •  
  • 303 Avenida Marlina Chula Vista, 4
    • 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,559 Sqft ∙ Built 2005
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.29
    •  
PROPERTY LISTING DETAILS
Suzanne Yavorsky
1.619.267.7900
Yavorsky Properties Of Bonita
BESbswy