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738 Monserate Ave Chula Vista, CA 91910

4 Beds 2 Baths 1,980 sqft Built 1960

$749,900

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $378.74
  • 5 Days on Market
  • MLS # : 210000977
  • Updated Date : 01/15/2021 at 19:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,980 sqft
  • Baths : 2 full
Listing Agent

Zeal Property Group

Listing Agent's Description

Enjoy unobstructed views to Downtown Skyline, Coronado Bridge, Pacific Ocean and San Diego Harbor from the privacy of your backyard. This Mid-Century home is designed to be a true entertainers dream. It boasts exposed original chestnut color beams, open floor plan and large windows that reveal the spectacular view from your living room. Original homeowners designed and built this home with large sliding door windows to maximize the breathtaking view.

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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: Hilltop

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $218k594k

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

Neighborhood: Hilltop

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13762926

* 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
Halecrest Elementary School Primary Regular 516 22 7
Halecrest Elementary School Middle Regular 516 22 7
Hilltop High School High Magnet 2,174 80 7

Halecrest Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 22
7
GreatSchools Rating

Halecrest Elementary School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 22
7
GreatSchools Rating

Hilltop High School

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

$674,910$824,890$749,900

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,605
Property Tax -$711
Property Insurance -$77
Property Management Fees -$129
CASH FLOW
-$841

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.

$749,900

PROJECTED PRICE

$2,680

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.2%
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-$15k-$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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,171

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
  • $2,648

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,6004$2,6005$3,000
$3,000
RENT COMPS ANALYSIS
  • 738 Monserate Ave Chula Vista, CA 1
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1047 Guatay Chula Vista, CA 2
    • 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 1955 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 1955
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.32
    •  
  • 77 Flower St Chula Vista, CA 3
    • 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,998 Sqft ∙ Built 1960
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.30
    •  
  • 851 Country Club Dr Chula Vista, CA 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1955 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1955
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.30
    •  
  • 207 E J St Chula Vista, CA 5
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1964
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
PROPERTY LISTING DETAILS
Hannah Kuhami
1.619.419.6517
Zeal Property Group
BESbswy