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1009 N Midway Dr Escondido, CA 92027

4 Beds 2 Baths 1,229 sqft Built 1961

$565,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $459.72
  • 9 Days on Market
  • MLS # : 210004721
  • Updated Date : 03/02/2021 at 21:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,229 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Inviting One level 4 Br 2 full Baths fully fenced large Front & Back Yards. New Fresh paint. Premium hardwood flooring. A large dining/living room area is adjacent to the kitchen. New dual pane premium doors and new windows.Premium hardwood floors throughout. Huge fully fenced back yard with Patio. Front fenced yard and porch. Pet friendly yards. One car attached garage with driveway. Enjoy entertaining friends/family in fully fenced front & private large back yards. No HOA. No Melo Roos one level charming single family home. Fresh and pretty painted one level air conditioned bungalow has so much to offer! Located on a large private lot shaded with fruit trees..Minutes to Hwy 78 &15.Near malls, shops, schools. MUST SEE CHARMER!FHA/VA welcome!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Midway

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Midway

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12802885

* 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
Conway Elementary School Primary Regular 693 29 3
Rincon Middle School Middle Regular 1,304 65 4
Orange Glen High School High Regular 2,123 87 4

Conway Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 29
3
GreatSchools Rating

Rincon Middle School

  • Education Level: Middle
  • # of students: 1,304
  • # of teachers: 65
4
GreatSchools Rating

Orange Glen High School

  • Education Level: High
  • # of students: 2,123
  • # of teachers: 87
4
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,962
Property Tax -$534
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
-$104

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.

$565,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.2%
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$500k$1.0M$1.5M$2.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$40,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,728

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,500
$2,500
RENT COMPS ANALYSIS
  • 1009 N Midway Dr Escondido, CA 1
    • 4 beds 2 baths ∙ 1,229 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,229 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1159 Sander Court Escondido, CA 2
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1970
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.22
    •  
PROPERTY LISTING DETAILS
Anil Mavalankar
1.858.815.3596
First Team Real Estate
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004721
Last Updated: 03/02/2021
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