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85 E Queen Anne Dr Chula Vista, CA 91911

4 Beds 2 Baths 1,736 sqft Built 1965

$570,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $328.34
  • 3 Days on Market
  • MLS # : 200054260
  • Updated Date : 12/19/2020 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Beautiful single story home in Chula Vista! Home is located on a cul-da-sac street for desirable privacy & safety, with lots of street parking. Newly installed wall heater for the upcoming winter seasons, dual pane windows throughout home, and new lush green landscaping. Home is in good condition, but being sold AS-IS. Roof is at the end of its life and will need to be replaced soon. Current price ALREADY reflects the cost of roof replacement. PLEASE NOTE: Roof may be an issue with VA or FHA loans.

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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: Castle Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Castle Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12522926

* 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
Castle Park Elementary School Primary Regular 411 17 6
Castle Park Elementary School Middle Regular 411 17 6
Hilltop High School High Magnet 2,174 80 7

Castle Park Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 17
6
GreatSchools Rating

Castle Park Elementary School

  • Education Level: Middle
  • # of students: 411
  • # of teachers: 17
6
GreatSchools Rating

Hilltop High School

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

$513,000$627,000$570,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,103
Property Tax -$540
Property Insurance -$71
Property Management Fees -$129
CASH FLOW
-$333

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$570,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$26,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $2,349

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5104$2,700
$2,700
RENT COMPS ANALYSIS
  • 85 E Queen Anne Dr Chula Vista, CA 3
    • 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,736 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.45
    •  
  • 1047 Guatay Chula Vista, CA 1
    • 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
    •  
  • 1485 Hilltop Dr Chula Vista, CA 2
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1967
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.40
    •  
  • 431 Sparrow Chula Vista, CA 4
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 1978
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.34
    •  
PROPERTY LISTING DETAILS
Alexander Garcia
1.619.520.6402
Big Block Realty, Inc.
BESbswy