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1266 Morgan Hill Dr 
Chula Vista, CA
91913
4 Beds 3 Baths 2,254 sqft
Built 2000
INVESTimate
$729,900
List Price
$199,174
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PROPERTY INFO
FACTS
- Built In 2000
- Price/Sqft : $323.82
- 41 Days on Market
- MLS # : 200033498
- Updated Date : 08/25/2020 at 01:59
CONSTRUCTION
- Beds : 4
- Floor Size : 2,254 sqft
- Baths : 2 full , 1 half
Listing Agent
Compass
Listing Agent's Description
Beautiful home in desirable Heritage Community has Many upgrades and features which include, remodeled kitchen with farmer sink, Lazy Susan's corner cabinets, and stainless steel appliances. Hardwood floors, shutters, custom upgraded Master bathroom with Separate bath and shower, dual sinks and walk-in closet. New exterior paint, nice size backyard, stamped concrete with brand new patio cover, perfect for entertaining. Walking distance to Heritage Elementary School, pool and basketball court and park.
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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: Heritage
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Heritage
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,990 |
| EXPENSES | Loan Payment | -$2,693 |
| Property Tax | -$867 | |
| Property Insurance | -$84 | |
| HOA | -$75 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$857
|
||
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.
$729,900
PROJECTED PRICE
$2,990
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 6.20% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$199,174
LOAN DETAILS
$2,693
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $182,475 |
| Loan Amount | $547,425 |
1.42
YEARS SAVED
$6,019
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,990
LIST RENT -
$1.33
LIST RENT PER SQFT
-
$3,139
COMP ESTIMATED VALUE -
$1.39
COMP AVG. RENT PER SQFT
Comps Range
-
1266 Morgan Hill Dr Chula Vista, 2
- 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $2,990
- $1.33
-
1678 Pember Ave Chula Vista, 1
- 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2010
LEASED 06/13/19- Rent
- Rent Per SQFT
- $2,800
- $1.42
-
1325 Santa Diana #1 Chula Vista, 3
- 4 beds 4 baths ∙ 2,342 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,342 Sqft ∙ Built 2016
LEASED 05/22/20- Rent
- Rent Per SQFT
- $3,150
- $1.35
-
1435 Santa Diana Rd #2 Chula Vista, 4
- 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2016
LEASED 03/24/20- Rent
- Rent Per SQFT
- $3,200
- $1.37
-
1482 Oakpoint Chula Vista, 5
- 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2004
LEASED 02/25/20- Rent
- Rent Per SQFT
- $3,375
- $1.43
PROPERTY LISTING DETAILS
1.619.300.9111
Compass
