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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: East Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,500
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$2,521
COMP ESTIMATED VALUE -
$1.56
COMP AVG. RENT PER SQFT
Comps Range
-
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
1.619.717.9311
Windermere Homes & Estates
