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1589 S S Escondido Blvd Escondido, CA 92025

3 Beds 3 Baths 1,406 sqft Built 2005

$529,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $376.24
  • 3 Days on Market
  • MLS # : 210002437
  • Updated Date : 01/29/2021 at 23:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,406 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Well maintained two-story detached Rowhome located within the heart of South Escondido. This amazing property is MOVE-IN READY featuring fresh neutral paint and trim, recessed lighting, updated bathrooms, and durable wood laminate flooring throughout. Large windows bask the home in an abundance of natural light. A beautifully appointed kitchen boasting granite countertops, stainless steel appliances and warm honey-hued cabinetry.

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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: Central Escondido

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $176k594k

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

Neighborhood: Central Escondido

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12972885

* 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
Juniper Elementary School Primary Regular 726 29 3
Bear Valley Middle School Middle Regular 1,087 52 5
San Pasqual High School High Regular 2,237 93 7

Juniper Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 29
3
GreatSchools Rating

Bear Valley Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 52
5
GreatSchools Rating

San Pasqual High School

  • Education Level: High
  • # of students: 2,237
  • # of teachers: 93
7
GreatSchools Rating
 

$476,100$581,900$529,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,837
Property Tax -$500
Property Insurance -$63
HOA -$74
Property Management Fees -$129
CASH FLOW
-$383

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.

$529,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,837

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,414

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
  • $2,245

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1953$2,2504$2,690
$2,690
RENT COMPS ANALYSIS
  • 1589 S S Escondido Blvd Escondido, CA 1
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 323 Tesoro Glen #109 Escondido, CA 2
    • 3 beds 4 baths ∙ 1,302 Sqft ∙ Built 2006 3 beds 4 baths ∙ 1,302 Sqft ∙ Built 2006
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.69
    •  
  • 690 N Grape #middle Building Escondido, CA 3
    • 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,550 Sqft ∙ Built 2015
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.45
    •  
  • 1502 Rowan Gln Escondido, CA 4
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2004
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.65
    •  
PROPERTY LISTING DETAILS
Rachel Gardner
1.858.877.0091
Redfin Corporation
BESbswy