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3056 Slivkoff Dr Escondido, CA 92027

3 Beds 2 Baths 1,616 sqft Built 1965

$750,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $464.11
  • 7 Days on Market
  • MLS # : 200051833
  • Updated Date : 11/16/2020 at 23:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent

Windermere Homes & Estates

Listing Agent's Description

CASH ONLY - Incredible opportunity to own a huge chunk of a small mountainside! Amazing Rehab property or land development project on this 7.72 acre (336,283 sqft) lot, zoned as RE20 (Per the city this allows for 20000 sq ft minimum lots). Currently the home at the top has unpermitted work and needs everything. The unpermitted car workshop below it needs to be demolished, per the city. Possible environmental issues or damages may exist from the workshop and also from other previous abandoned vehicles.

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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: East Grove

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $223k594k

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

Neighborhood: East Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13412885

* 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
Orange Glen Elementary School Primary Regular 774 34 4
Hidden Valley Middle School Middle Regular 1,153 56 4
Orange Glen High School High Regular 2,123 87 4

Orange Glen Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 34
4
GreatSchools Rating

Hidden Valley Middle School

  • Education Level: Middle
  • # of students: 1,153
  • # of teachers: 56
4
GreatSchools Rating

Orange Glen High School

  • Education Level: High
  • # of students: 2,123
  • # of teachers: 87
4
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,767
Property Tax -$715
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$1,109

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.

$750,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 7.6%
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$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$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,032

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
  • $2,521

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,250
$2,250
RENT COMPS ANALYSIS
  • 3056 Slivkoff Dr Escondido, CA 1
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 119 Auburn Gln Escondido, CA 2
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1983
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.56
    •  
PROPERTY LISTING DETAILS
David Goodman
1.619.717.9311
Windermere Homes & Estates
BESbswy