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2384 Sunset Drive Escondido, CA 92025

3 Beds 2 Baths 1,425 sqft Built 1958

$599,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $420.35
  • 17 Days on Market
  • MLS # : 200052277
  • Updated Date : 12/04/2020 at 15:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,425 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Newly remodeled corner lot home sitting on nearly an acre...the possibilities are endless!! Enjoy the cozy fireplace during the winter or sunsets on the new patio deck with breathtaking peek-a-boo view of East Canyon. Need a private office or art studio? This home boasts a detached studio equipped with electricity. Perfect for multi-gen or starter home for a growing family. Minutes away from Kit Carson Park and SD Wild Animal Park...plenty of family activities nearby. Come see this turn-key home today!

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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: Kit Carson

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600kPrice in $223k614k

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

Neighborhood: Kit Carson

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
L. R. Green Elementary School Primary Regular 682 30 7
Bear Valley Middle School Middle Regular 1,087 52 5
San Pasqual High School High Regular 2,237 93 7

L. R. Green Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 30
7
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
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,210
Property Tax -$562
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$704

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.

$599,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.38%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $2,679

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,260
1$2,2602$2,5003$2,5004$2,600
$2,600
RENT COMPS ANALYSIS
  • 2384 Sunset Drive Escondido, CA 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.59
    •  
  • 556 W 11th Ave. Unit A Escondido, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1954
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.08
    •  
  • 2006 South Juniper St Escondido, CA 3
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1961
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.80
    •  
  • 616 E 17th Ave Escondido, CA 4
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1963
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.76
    •  
PROPERTY LISTING DETAILS
Dj Salazar
1.619.920.2603
My Home Group Real Estate
BESbswy