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2105 Jeremy Pl Escondido, CA 92027

4 Beds 3 Baths 2,123 sqft Built 1994

$685,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $322.66
  • 4 Days on Market
  • MLS # : 200052191
  • Updated Date : 11/22/2020 at 03:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,123 sqft
  • Baths : 3 full
Listing Agent

Extol Realty

Listing Agent's Description

WELCOME HOME to your two story, cul de sac home located in the Greenway Rise Community! Enjoy the S/SE, Escondido, valley views from the back of your home! Entertain, soak in the sun, homeschool, or tele-work around the Fire Pit, Covered Gazebo, or Backyard Grass. FIRST FLOOR: Bedroom, Hall Bathroom, Living Room, Family Room, Kitchen, & Dining Room. SECOND FLOOR: Master Bedroom & Bath, Two Front Bedrooms, and Hall Bath w/ separate Shower/Comode area. Home also boasts updated Furnace/AC & Solar Panels!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
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
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,527
Property Tax -$653
Property Insurance -$81
HOA -$180
Property Management Fees -$129
CASH FLOW
-$910

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.

$685,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$187,275

INVESTMENT

$187,275

Down Payment
$171,250
Rehab Estimate
$5,750
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,355

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
  • $2,611

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,950
$2,950
RENT COMPS ANALYSIS
  • 2105 Jeremy Pl Escondido, CA 1
    • 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 657 Oakwood Creek Place Escondido, CA 2
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.23
    •  
PROPERTY LISTING DETAILS
Niel Mamerto
1.858.876.2888
Extol Realty
BESbswy