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1301 La Mirada Avenue Escondido, CA 92026

3 Beds 2 Baths 1,716 sqft Built 1972

$639,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $372.38
  • 7 Days on Market
  • MLS # : 210004572
  • Updated Date : 02/28/2021 at 02:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,716 sqft
  • Baths : 2 full
Listing Agent

Sand & Sea Investments

Listing Agent's Description

Look no further NO HOA, SOLAR PAID! Wonderful warm home in a highly desirable Old Escondido Country Club. Nestled on a quiet safe street, plenty of living space for the whole family to enjoy! This home has been lovingly maintained: new laminated flooring, new carpets, dual-pane windows, newer appliances, HVAC, H2O heater, and updated kitchen w/breakfast bar -kitchen features quartz countertops, subway tile backsplash, stainless steel appliances, recessed lights, stainless steel apron sink, and large windows for plenty of natural lighting. Cozy patio backyard with a trellis perfect for entertaining. This backyard is ready to be transformed into your dream oasis. SUPER convenient to shopping, schools, and easy freeway access to I-15 and Hwy 78.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $223k594k

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

Neighborhood: Country Club

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14252885

* 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
Reidy Creek Elementary School Primary Regular 654 29 6
Rincon Middle School Middle Regular 1,304 65 4
Escondido High School High Regular 2,493 107 6

Reidy Creek Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 29
6
GreatSchools Rating

Rincon Middle School

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

Escondido High School

  • Education Level: High
  • # of students: 2,493
  • # of teachers: 107
6
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,219
Property Tax -$602
Property Insurance -$70
Property Management Fees -$129
CASH FLOW
-$271

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.

$639,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$31,790

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
  • $2,934

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$2,997
$2,997
RENT COMPS ANALYSIS
  • 1301 La Mirada Avenue Escondido, CA 1
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 310 Conifer Glen Escondido, CA 2
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1987
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.58
    •  
  • 1125 Rachel Circle Escondido, CA 3
    • 4 beds 3 baths ∙ 1,627 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,627 Sqft ∙ Built 1990
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,997
    • $1.84
    •  
PROPERTY LISTING DETAILS
Jackie Jeron
1.916.792.6834
Sand & Sea Investments
1.866.250.5610
San Diego MLS ( SDMLS)
MLS #: 210004572
Last Updated: 02/28/2021
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