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613 Iona Escondido, CA 92027

3 Beds 2 Baths 1,330 sqft Built 1996

$560,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $421.05
  • 4 Days on Market
  • MLS # : 210001154
  • Updated Date : 01/15/2021 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,330 sqft
  • Baths : 2 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Darling single level 3bd/2ba home on a large, unique, private lot with a long drive way (RV!). Home is set back from the others on the street. A ton of yard space front and back, fully fenced and ready for your own beautiful landscape. The home has an open floor plan with a lot of light. Spacious kitchen with breakfast nook. New paint throughout. Indoor laundry room. Pitched ceilings throughout.Great home with loads of potential to add your personal touch. Close to Dixon Lake, schools, parks and shopping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Glen View Elementary School Primary Regular 746 33 5
Hidden Valley Middle School Middle Regular 1,153 56 4
Orange Glen High School High Regular 2,123 87 4

Glen View Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 33
5
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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,945
Property Tax -$534
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$348

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.

$560,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.41%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$18,855

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
  • $2,128

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,2504$2,350
$2,350
RENT COMPS ANALYSIS
  • 613 Iona Escondido, CA 1
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1412 Timber Gln Escondido, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.50
    •  
  • 119 Auburn Gln Escondido, CA 3
    • 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
    •  
  • 1440 Timber Gln Escondido, CA 4
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1989
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.74
    •  
PROPERTY LISTING DETAILS
Dylan Rainey
1.704.728.4428
Big Block Realty, Inc.
BESbswy