Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1885 Loreto Gln Escondido, CA 92027

2 Beds 2 Baths 1,168 sqft Built 1990

$519,895

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $445.12
  • 4 Days on Market
  • MLS # : 210001721
  • Updated Date : 01/21/2021 at 20:45
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,168 sqft
  • Baths : 2 full
Listing Agent

Abacus Properties Inc.

Listing Agent's Description

Look no further! Beautiful single level hillside home nestled into one of North Escondido's finest gated communities is exactly what you are looking for. Come home and relax in this 2 br 2 bath home boasting vaulted ceilings, a cozy fireplace and new plantation shutters throughout. Relax in your private back yard covered with a pergola patio. Perfect space to garden or stretch out while reading your favorite book. Kitchen has beautiful granite countertops and upgraded stone tiles throughout. A MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: North Broadway

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $212k594k

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

Neighborhood: North Broadway

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14342885

* 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
Escondido High School High Regular 2,493 107 6

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

Escondido High School

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

$467,906$571,885$519,895

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,806
Property Tax -$492
Property Insurance -$57
HOA -$195
Property Management Fees -$129
CASH FLOW
-$598

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.

$519,895

PROJECTED PRICE

$2,080

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$143,522

INVESTMENT

$143,522

Down Payment
$129,974
Rehab Estimate
$5,750
Closing Costs
$7,798

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,974
Loan Amount $389,921
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,033

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
  • $2,021

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$2,095
$2,095
RENT COMPS ANALYSIS
  • 1885 Loreto Gln Escondido, CA 1
    • 2 beds 2 baths ∙ 1,168 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,168 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 907 N Fig St Escondido, CA 2
    • 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1972 2 beds 2 baths ∙ 1,080 Sqft ∙ Built 1972
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.62
    •  
  • 1924 Sheridan Ave #54 Escondido, CA 3
    • 2 beds 2 baths ∙ 1,140 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,140 Sqft ∙ Built 1980
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.84
    •  
PROPERTY LISTING DETAILS
Vern Lovett
1.619.818.1086
Abacus Properties Inc.
BESbswy