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945 E E 7th Ave Escondido, CA 92025

3 Beds 2 Baths 1,504 sqft Built 1955

$619,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $411.57
  • 5 Days on Market
  • MLS # : 210001573
  • Updated Date : 01/20/2021 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full
Listing Agent

Re/max Connections

Listing Agent's Description

Amazing single story home has charm of 1950’s home with updates and open floorplan for todays living. Kitchen beautifully remodeled. Quartzite counters, stainless appliances, built-in desk for working at home. Great room with vaulted ceiling, recessed lights, cozy fireplace and large windows fills home with light. Hardwood floors in kitchen, dining area and living room. Upgraded electrical panel. Interior space combined with great outside spaces makes for fabulous inside/outside living.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

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
Juniper Elementary School Primary Regular 726 29 3
Bear Valley Middle School Middle Regular 1,087 52 5
Orange Glen High School High Regular 2,123 87 4

Juniper Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 29
3
GreatSchools Rating

Bear Valley Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 52
5
GreatSchools Rating

Orange Glen High School

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

$557,100$680,900$619,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,150
Property Tax -$587
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$381

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.

$619,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.41%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,150

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$20,497

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
  • $2,888

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,600
$2,600
RENT COMPS ANALYSIS
  • 945 E E 7th Ave Escondido, CA 1
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1955
    property image
    • 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
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.08
    •  
  • 616 E 17th Ave Escondido, CA 3
    • 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
Patrice Fuchs
1.858.735.6926
Re/max Connections
BESbswy