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642 N Elm St Escondido, CA 92025

4 Beds 2 Baths 1,500 sqft Built 1955

$510,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $340.00
  • 8 Days on Market
  • MLS # : 210000840
  • Updated Date : 01/14/2021 at 04:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Century 21 Award

Listing Agent's Description

***Pictures used are from previous sale in 2017*** GREAT INCOME PROPERTY, tenants(Since APR 2019) would like to stay. New roof was put in 2020, new electrical panel in 2018. Newer kitchen with stainless steel appliances and quartz countertops. Updated bathrooms and separate laundry room. Large fenced yard. Located close to shopping and restaurants.

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: Central Escondido

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $176k594k

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

Neighborhood: Central Escondido

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12972885

* 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
Pioneer Elementary School Primary Regular 800 40 3
Mission Middle School Middle Regular 951 46 4
Orange Glen High School High Regular 2,123 87 4

Pioneer Elementary School

  • Education Level: Primary
  • # of students: 800
  • # of teachers: 40
3
GreatSchools Rating

Mission Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 46
4
GreatSchools Rating

Orange Glen High School

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

$459,000$561,000$510,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,771
Property Tax -$483
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$510,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
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$0.0$5.0k$10k$15k$20k$25k$30k

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$64,293

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
  • $3,120

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,500
$2,500
RENT COMPS ANALYSIS
  • 642 N Elm St Escondido, CA 1
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 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
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.08
    •  
PROPERTY LISTING DETAILS
Kayvan Sabouri
1.858.455.0055
Century 21 Award
BESbswy