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751 Lori Ln Chula Vista, CA 91910

3 Beds 2 Baths 1,416 sqft Built 1970

INVESTimate

$599,000

List Price

$2,460

$2,214 - $2,706

Rent Est.

$634,461  ( +5.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $423.02
  • 8 Days on Market
  • MLS # : 200040082
  • Updated Date : 08/20/2020 at 09:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Great opportunity to own a single story detached home in Chula Vista!! This property features 3 bedrooms, 2 bathrooms, huge living room with fireplace, and a 2 car garage. Nice yard that would be great for entertaining. Located in close proximity to freeway access, schools, and shopping.

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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: 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
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
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,210
Property Tax -$567
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$509

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.

$599,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.92%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$14,784

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $2,570

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,4004$2,4605$3,000
$3,000
RENT COMPS ANALYSIS
  • 751 Lori Ln Chula Vista, 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.74
    •  
  • 781 Dennis Ave Chula Vista, 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1956
    LEASED 03/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.82
    •  
  • 575 Fifield Street Chula Vista, 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1965
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.64
    •  
  • 600 Sheffield Ct. #26 Chula Vista, 3
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1972
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.88
    •  
  • 928 Redbud Rd Chula Vista, 5
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1984
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.92
    •  
PROPERTY LISTING DETAILS
Chris Heller
1.760.632.8408
Keller Williams Realty
BESbswy