475 Midway Drive

475 Midway Drive

D

Escondido, CA 92027

$469,000

Beds

3

Baths

2

Sqft

1,053

Year Built

1979

Days on Market

36

Property Type

Condo

HOA/mo

$430

MLS ID

NDP2601397

Description

Come see this RARE 3 bedroom, 2 bathroom ground floor condo. It was just REMODELED and offers all NEW kitchen appliances, paint, luxury vinyl plank (LVP) flooring, faucets and light fixtures. This condo is light, bright and cheerful, with ample closet space and no carpet or stairs anywhere! The living room and primary bedroom are very spacious. Next to the living room is a sunny, private patio with flowering camelias. But if you get too warm out there, come inside to cool off - it has AIR CONDITIONING. Plus, there is a full-sized washer and dryer in the unit's laundry closet for added convenience. The gated parking lot, accessible by remote control only, keeps the complex private. Assigned to the unit are TWO PARKING SPACES (one carport space and one uncovered space). The complex is secure, nicely landscaped and offers two gated pools and a picnic area. One dog and/or one cat allowed with HOA approval and subject to size and breed restrictions. Water, sewer and trash are included in the HOA fee. Note: some websites say it has only one and a half bathrooms but that is incorrect, there are two!

Mortgage Calculator

Est. Monthly Payment

$3,407

Principal & Interest$2,372
Property Tax$469
Insurance$137
HOA$430
%($93,800)
%

Investment Score

50D
Est. Monthly Rent
$3,574
Monthly Cashflow

Rent − PITI − HOA

+$166
Full Cashflow

Incl. vacancy, PM, maint, capex

$-1,046

Mortgage (P+I)
$2,372
Cap Rate
3.39%
Cash-on-Cash
2.13%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

1.05
Break-even Rent
$3,408

NOI (Annual)
$15,902
Price-to-Rent

Lower = better for investors

10.9

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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