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1647 Melrose
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1647 Melrose

Btop 30%

Chula Vista, CA 91911

$849,900
NEW — 0d
STR limited · Chula Vista residents only · TOT 10%

Pass at asking: -$3,294/mo full cashflow at 20% down, 7.43% rate.

Works at $421,045 (50% under asking), or at 76% down.

Rent $4,200/mo from 14 leases of 4-bed houses within 2 mi ($3,688–$4,249).

Beds

4

Baths

2

Sqft

1,500

Year Built

1966

Days on Market

0

Property Type

Single Family

HOA/mo

N/A

MLS ID

SW26231764

This property is in Chula Vista (91911). Browse neighborhood analytics →

About This Property

I am excited to share the details of a cozy, updated home in a great location in Chula Vista, just a couple of blocks from the 805 freeway.Here are the key features of the property: Best location in Chula Vista lovely home offers 4 bedrooms, plus a casita in the large backyard. Upgraded Kitchen & Bathrooms: Fully remodeled kitchen and bathrooms with upgraded flooring and new windows throughout. Fresh Interior: The interior of the home has been recently painted. Converted Garage: The 2-car garage has been thoughtfully converted into a spacious TV room. Eco-Friendly Features: Includes solar panels and an installed Tesla charger. Outdoor Space: A large backyard featuring a storage shed and plenty of room to relax. Prime Location: Corner lot home, Walking distance to an elementary school and very close to local grocery stores and amenities.

Mortgage Calculator

Est. Monthly Payment

$5,819

Principal & Interest$4,722
Property Tax$850
Insurance$248
%($169,980)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Rohr (Fred H.) Elementary · grades PK-6 · Chula Vista Elementary

  • Middle

    Castle Park Middle · grades 7-8 · Sweetwater Union High

  • High

    Castle Park Senior High · grades 9-12 · Sweetwater Union High

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Comparable Properties

5 comps found

This Property

$4,200

vs

Comp Average

$3,953

65 Suzanne Ln

65 Suzanne Ln

4bd / 3ba · 1,513 sqft · Single Family

$649K

Est. $4,033/mo

1395 Laurel Ave

1395 Laurel Ave

4bd / 2ba · 1,414 sqft · Single Family

$759K

Est. $3,860/mo

1109 Nolan Avenue

1109 Nolan Avenue

3bd / 2ba · 1,461 sqft · Single Family

$795K

Est. $3,746/mo

485 Montcalm St

485 Montcalm St

3bd / 2ba · 1,485 sqft · Single Family

$899K

Est. $3,864/mo

953 Maria Way

953 Maria Way

4bd / 2.5ba · 1,542 sqft · Single Family

$1000K

Est. $4,261/mo

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

41B
Est. Monthly Rent
$4,200

14 leases of 4-bed houses within 2 mi · $3,688–$4,249

Blended 50/50 with the zip's market median ($4,522)

Monthly Cashflow

Rent − PITIA

-$1,619
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,294

What would make this work?

$3,294/mo short at 20% down; 76% down or +$4,278/mo rent closes it.

Break-even price

50% under asking

$421,045
Break-even rent

$4,278/mo above the estimate

$8,478/mo
Cashflow at 35% down
−$2,408/mo
Down payment to break even

$645,924 cash

76%
Rate to break even

Negative even at a 0% loan

Not reachable
Mortgage (P+I)
$4,722
Cap Rate
2.31%
Cash-on-Cash
-23.25%
DSCR

Need ≥ 1.25 for DSCR loan

0.72
NOI (Annual)
$19,654
Price-to-Rent

Lower = better for investors

16.9

* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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BCashflow−$3,294/mo