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2040 Vera Ln Escondido, CA 92026

3 Beds 2 Baths 1,362 sqft Built 1974

$529,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $388.40
  • 4 Days on Market
  • MLS # : 200053671
  • Updated Date : 12/10/2020 at 21:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,362 sqft
  • Baths : 2 full
Listing Agent

The Broker Network

Listing Agent's Description

Great location on a wonderful cul-de-sac in the desirable Country Club neighborhood. No HOA or Mello Roos! Home is perfectly situated on a lovely lot. Fireplace in family room. Fenced back yard with fruit & shade trees. Bonus sun room adds great additional space. Great floor plan, living room & dining room combo. Nearby shopping, restaurants, & easy freeway access. Great opportunity for someone to add their special touches, and build a little sweat equity. Needs some work and priced accordingly. Hurry!

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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: 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
 

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

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,952
Property Tax -$498
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$151

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.

$529,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.47%

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

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

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$41,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $2,497

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4903$2,6004$2,700
$2,700
RENT COMPS ANALYSIS
  • 2040 Vera Ln Escondido, CA 2
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.83
    •  
  • 2120 N Iris Lane Escondido, CA 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1978
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.06
    •  
  • 310 Conifer Glen Escondido, CA 3
    • 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
    •  
  • 1506 Indian Summer Ct. San Marcos, CA 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1972
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.86
    •  
PROPERTY LISTING DETAILS
Michael Rousseau
1.760.390.9820
The Broker Network
BESbswy