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9664 Galatea Ln Escondido, CA 92026

3 Beds 4 Baths 2,297 sqft Built 1979

$725,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $315.63
  • 4 Days on Market
  • MLS # : 200053120
  • Updated Date : 12/04/2020 at 22:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass

Listing Agent's Description

This view home sits on 1/3 of an acre in the hills N. of Escondido & offers privacy & space while still being close to the heart of Escondido. Walk into the expansive great room which then opens to a HUGE, wrap-around deck providing entertainment galore while enjoying the sunrise or sunset. Dual master suites with one on the main level enables single level living if needed & each room is oversized. The detached home office provides an opportunity to live & work from home while soaking up beautiful views!

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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: Hidden Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $223k675k

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

Neighborhood: Hidden Meadows

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001800200022002400260028003000Rent in $14343071

* 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
Reidy Creek Elementary School Primary Regular 654 29 6
Rincon Middle School Middle Regular 1,304 65 4
Escondido High School High Regular 2,493 107 6

Reidy Creek Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 29
6
GreatSchools Rating

Rincon Middle School

  • Education Level: Middle
  • # of students: 1,304
  • # of teachers: 65
4
GreatSchools Rating

Escondido High School

  • Education Level: High
  • # of students: 2,493
  • # of teachers: 107
6
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,675
Property Tax -$765
Property Insurance -$85
Property Management Fees -$129
CASH FLOW
-$853

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.

$725,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,360

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,800

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,917

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9503$3,490
$3,490
RENT COMPS ANALYSIS
  • 9664 Galatea Ln Escondido, CA 1
    • 3 beds 4 baths ∙ 2,297 Sqft ∙ Built 1979 3 beds 4 baths ∙ 2,297 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.22
    •  
  • 28108 Glenmeade Way Escondido, CA 2
    • 4 beds 2 baths ∙ 2,566 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,566 Sqft ∙ Built 1990
    property image
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.15
    •  
  • 10737 Meadow Glen Way East Escondido, CA 3
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 1974
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.39
    •  
PROPERTY LISTING DETAILS
John Selby
1.619.251.0979
Compass
BESbswy