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952 E Grand Ave Escondido, CA 92025

3 Beds 1 Baths 992 sqft Built 1951

INVESTimate

$475,000

List Price

$2,100

$1,890 - $2,310

Rent Est.

$511,955  ( +7.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $478.83
  • 6 Days on Market
  • MLS # : 200040620
  • Updated Date : 08/22/2020 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 992 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

SINGLE STORY! LARGE BACKYARD! Located in the heart of Escondido, this charming 992 sqft home offers 3 bedrooms and 1 bathroom. The upgraded kitchen has tile flooring, track lighting, granite countertops, and stainless steel appliances. The family room offers wood flooring and plenty of natural light. Three bedrooms with plenty of closet storage space. Upgraded bathroom. Ceiling fans. Laundry room inside. (See supplemental details)

SEE MORE

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
Central Elementary School Primary Regular 732 28 2
Del Dios Middle School Middle Regular 859 41 3
Orange Glen High School High Regular 2,123 87 4

Central Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 28
2
GreatSchools Rating

Del Dios Middle School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 41
3
GreatSchools Rating

Orange Glen High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,753
Property Tax -$449
Property Insurance -$52
Property Management Fees -$129
CASH FLOW
-$283

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.

$475,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.78%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$21,962

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
  • $2,202

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,500
$2,500
RENT COMPS ANALYSIS
  • 952 E Grand Ave Escondido, 1
    • 3 beds 1 baths ∙ 992 Sqft ∙ Built 1951 3 beds 1 baths ∙ 992 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1159 Sander Court Escondido, 2
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1970
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.22
    •  
PROPERTY LISTING DETAILS
Doug West
1.760.710.7345
First Team Real Estate
BESbswy