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2241 Cortina Cir Escondido, CA 92029

4 Beds 3 Baths 2,542 sqft Built 1989

$1,099,900

List Price

$3,520

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $432.69
  • 4 Days on Market
  • MLS # : 210003014
  • Updated Date : 02/06/2021 at 17:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,542 sqft
  • Baths : 2 full , 1 half
Listing Agent

Capstone Realty & Financial

Listing Agent's Description

Welcome to your private oasis! RARE OPPORTUNITY, No HOA! This stunning ranch style home is located off the main road with unmatched privacy and seclusion. Boasting sweeping panoramic views from the backyard complete with a pebble-tec pool/spa. Open floor plan with vaulted ceilings. Set up as a "smart home" with voice control. Large driveway for RV parking. Featuring 3-car garage, covered patio the length of the house, and a spacious side yard.

SEE MORE

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: Felicita

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $226k802k

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

Neighborhood: Felicita

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800300032003400Rent in $14343561

* 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
Bernardo Elementary School Primary Regular 567 24 8
Bear Valley Middle School Middle Regular 1,087 52 5
San Pasqual High School High Regular 2,237 93 7

Bernardo Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 24
8
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
 

$989,910$1,209,890$1,099,900

PURCHASE PRICE

$3,168$3,872$3,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,520
EXPENSES Loan Payment -$3,820
Property Tax -$1,036
Property Insurance -$91
Property Management Fees -$129
CASH FLOW
-$1,557

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,099,900

PROJECTED PRICE

$3,520

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,224

INVESTMENT

$297,224

Down Payment
$274,975
Rehab Estimate
$5,750
Closing Costs
$16,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,820

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $274,975
Loan Amount $824,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$603

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
  • $3,648

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8753$4,000
$4,000
RENT COMPS ANALYSIS
  • 2241 Cortina Cir Escondido, CA 1
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3230 Via Zamora Escondido, CA 2
    • 4 beds 4 baths ∙ 2,813 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,813 Sqft ∙ Built 1998
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.38
    •  
  • 1702 Macero St Escondido, CA 3
    • 5 beds 4 baths ∙ 2,685 Sqft ∙ Built 1981 5 beds 4 baths ∙ 2,685 Sqft ∙ Built 1981
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.49
    •  
PROPERTY LISTING DETAILS
Jeremy Paul
1.760.809.8304
Capstone Realty & Financial
BESbswy