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1532 Magnolia Pl Escondido, CA 92027

3 Beds 2 Baths 1,224 sqft Built 1967

$480,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $392.16
  • 12 Days on Market
  • MLS # : 200050836
  • Updated Date : 11/14/2020 at 20:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,224 sqft
  • Baths : 2 full
Listing Agent

Ohana Team Realty

Listing Agent's Description

This property is part of the County of San Diego Public Administrator's (Probate) Real Estate Sale. This home has a spacious kitchen with granite countertops and recessed lighting. This property, located in a culdesac, has lots of potential. Quick access to 78 and 15. Please inspect property before submitting an offer. No inspection has been conducted. No known deaths at the property. Buyer and selling agent to verify all measurements before COE.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Rose Elementary School Primary Regular 580 23 5
Mission Middle School Middle Regular 951 46 4
Orange Glen High School High Regular 2,123 87 4

Rose Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 23
5
GreatSchools Rating

Mission Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 46
4
GreatSchools Rating

Orange Glen High School

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

$432,000$528,000$480,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,771
Property Tax -$454
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
$58

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.

$480,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.51%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$59,686

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
  • $2,607

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4503$2,5004$2,590
$2,590
RENT COMPS ANALYSIS
  • 1532 Magnolia Pl Escondido, CA 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2120 N Iris Lane Escondido, CA 2
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1978
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.06
    •  
  • 1159 Sander Court Escondido, CA 3
    • 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
    •  
  • 1009 N Midway Dr Escondido, CA 4
    • 4 beds 2 baths ∙ 1,229 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,229 Sqft ∙ Built 1961
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $2.11
    •  
PROPERTY LISTING DETAILS
Myrna Manaloto
1.858.610.8517
Ohana Team Realty
BESbswy