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598 Douglas Streeet Chula Vista, CA 91910

3 Beds 3 Baths 1,500 sqft Built 1965

$660,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $440.00
  • 7 Days on Market
  • MLS # : 210004590
  • Updated Date : 02/23/2021 at 20:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

A wonderful home in a wonderful location. Nestled atop a canyon rim, this corner parcel has only one neighbor. The home is ready for move-in has many features; among them, three bedrooms, three baths, a family room, a large and private Pool (no neighbor behind) and Spa; Awesome open floor plan with updated Kitchen and baths; Living room Fireplace, beautiful display cabinet, direct access two car Garage and lots of parking; including space for an RV/Boat; The Family Room offers two sets of French Doors that lead to the Pool area and backyard. Dual Pane windows throughout. If you're a Gardner, you'll be pleased with what's growing at 598 Douglas. All this and within walking distance to Telegraph Canyon Plaza shopping & Restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: East Chula Vista

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $236k746k

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

Neighborhood: East Chula Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $15373384

* 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
Hilltop Middle School Middle Magnet 1,132 44 4
Hilltop High School High Magnet 2,174 80 7

Hilltop Middle School

  • Education Level: Middle
  • # of students: 1,132
  • # of teachers: 44
4
GreatSchools Rating

Hilltop High School

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

$594,000$726,000$660,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,292
Property Tax -$625
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$591

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$660,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$20k

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$180,650

INVESTMENT

$180,650

Down Payment
$165,000
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $165,000
Loan Amount $495,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$9,876

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
  • $2,510

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,5004$2,850
$2,850
RENT COMPS ANALYSIS
  • 598 Douglas Streeet Chula Vista, CA 1
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 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
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.64
    •  
  • 337 Windjammer Cir Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,469 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,469 Sqft ∙ Built 1985
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.70
    •  
  • 1580 Melrose Chula Vista, CA 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1965
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.68
    •  
PROPERTY LISTING DETAILS
Francisco Yescas
1.619.925.0400
Coldwell Banker Realty
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004590
Last Updated: 02/23/2021
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