389 First Avenue
1 / 20

389 First Avenue

Btop 30%

Chula Vista, CA 91910

$799,500

Pass at asking: -$2,985/mo full cashflow at 20% down, 7.43% rate.

Works at $410,822 (49% under asking), or at 74% down.

Rent $4,098/mo from 11 leases of 2–4 bed houses within 1 mi ($3,902–$4,269).

Beds

3

Baths

3

Sqft

1,852

Year Built

1972

Days on Market

61

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2608505

This property is in Chula Vista (91910). Browse neighborhood analytics →

Virtual Tour

About This Property

Excellent opportunity to bring your vision to this single-story in the heart of Chula Vista! Situated in a well-maintained neighborhood just two blocks from Third Avenue, this property offers incredible potential for those looking to customize or invest in a highly desirable location. The home features 3 bedrooms, 3 bathrooms plus an attached ADU, and a large, flat lot with plenty of room to explore future possibilities. The ADU offers flexibility for multi-generational living, guest accommodations, or as an investment. An attached 1-car garage plus abundant street parking adds to the convenience. Inside, the home offers a functional open floor plan with a mix of wood flooring and tile, abundant natural light, and a brick fireplace serving as a focal point in the living area. With its solid bones, single-story design, spacious lot, and significant potential, this is a fantastic opportunity to transform the property into something truly special. Enjoy the best of Chula Vista living just two blocks from Third Avenue, home to popular restaurants, coffee shops, bakeries, breweries, local businesses, and community events. Bring your imagination—this is a chance to create value in a prime location!

Mortgage Calculator

Est. Monthly Payment

$5,474

Principal & Interest$4,442
Property Tax$800
Insurance$233
%($159,900)
%
Loan Term

Location

Loading map...

Zoned Schools

  • Elementary

    Rosebank Elementary · grades K-6 · Chula Vista Elementary

  • Middle

    Hilltop Middle · grades 7-8 · Sweetwater Union High

  • High

    Hilltop 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.

Investment Score

47B
Est. Monthly Rent
$4,098

11 leases of 2–4 bed houses within 1 mi · $3,902–$4,269

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$1,376
Full Cashflow

Incl. vacancy, PM, maint, capex

-$2,985

What would make this work?

$2,985/mo short at 20% down; 74% down or +$3,876/mo rent closes it.

Break-even price

49% under asking

$410,822
Break-even rent

$3,876/mo above the estimate

$7,974/mo
Cashflow at 35% down
−$2,152/mo
Down payment to break even

$591,630 cash

74%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$4,442
Cap Rate
2.49%
Cash-on-Cash
-22.40%
DSCR

Need ≥ 1.25 for DSCR loan

0.75

NOI (Annual)
$19,939
Price-to-Rent

Lower = better for investors

16.3

* 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.

Open Full Calculator
BCashflow−$2,985/mo