228 E 15th Ave, Escondido, California 92025, Escondido, 92025 - 3 bed, 1 bath
228 E 15th Ave
Escondido, California 92025
Property Price
SUMMARY
Analysis of 228 E 15th Ave, Escondido, California 92025 reveals a property with a current list price of $799,000, which is 6% above the estimated $743,240 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Escondido Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 228 E 15th Ave Subject | $799,000* List Price | 3 | 1 | 1,008 | $737 | - |
A 1130 S Tulip St Sold | $690,000 | 2 | 1 | 1,040 | $663 | 0.9 mi |
B 759 W 10th Ave Sold | $668,000 | 2 | 2 | 924 | $723 | 0.8 mi |
C 127 W 5th Avenue Pending | $650,000 List Price | 3 | 1 | 1,168 | $557 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1955, the property shows signs of being well-maintained but is significantly outdated in key areas. The kitchen features honey oak cabinets, dated tiled backsplash, older white appliances, and a fluorescent light fixture, suggesting a renovation 15-25 years ago. The main living areas and bedrooms have original-style hardwood floors, which are a positive, but the presence of window AC units indicates a lack of central cooling, a major outdated system. While the property is clean and functional, it requires substantial cosmetic updates and system upgrades to meet current quality standards and buyer expectations.
PROSSTRENGTHS & OPPORTUNITIES
- Income-Generating Potential
The property includes a main home and a separate guest cottage, offering immediate rental income opportunities or flexible living arrangements for visitors.
- Significant Development Potential
With R2 zoning on a nearly 1/4-acre lot, there is substantial potential to add more units or expand existing structures, making it an attractive investment for future development.
- Expansive Lot Size
The generous 9,000 sqft lot provides ample space for outdoor living, gardening, and supports the property's development potential.
CONSRISKS & DEFICIENCIES
- Age of Construction
Built in 1955, the property may require significant updates to major systems (e.g., plumbing, electrical, HVAC) and general modernization to meet contemporary standards.
- Limited Bathroom Count
The main home features only one bathroom for three bedrooms, which can be a functional drawback for families or multiple occupants.
- Modest Main Home Square Footage
At 1008 sqft for a 3-bedroom house, the main residence offers relatively compact living spaces, potentially limiting its appeal to buyers seeking more expansive interiors.
About 228 E 15th Ave
This unique property features a charming three-bedroom one-bathroom home and a one-bedroom cottage nestled on nearly a 1/4-acre lot. The main home boasts wood floors throughout. The guest cottage offers a retreat for visitors or could serve as a rental for additional income. The expansive lot provides plenty of space for outdoor living, gardening, or future development. With R2 zoning, there's potential to add more units or expand the existing structures, making this an excellent investment opportunity. Located in a neighborhood that is growing quickly, this property is perfectly positioned to take advantage of Escondido's rising demand for housing, offering long-term growth potential. Whether you're a savvy investor or a homeowner looking to build equity, this is a prime opportunity to add value in a thriving community.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1955
- Lot Size
- 9,000 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Escondido Unified Schools
Juniper Elementary School
Grades K-5 • 0.4 mi
Felicita Elementary School
Grades K-5 • 0.7 mi
Central Elementary School
Grades K-5 • 0.8 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 10% |
| Square foot | 1,008 | 1,950 | 9% |
| Lot Size | 9,000 | 10,340.5 | 47% |
| Price | $799.0K | $920.2K | 30% |
| Price per sq ft | $793 | $490 | 97% |
| Built year | 1955 | 1977 | 22% |
| HOA | $0 | $0 | 50% |
| Days on market | 472 | 181 | 0% |
Pricing History
Listed for Sale
Nov 20, 2024
$799,000
Initial Listing