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1088 Breakaway Dr Oceanside, CA 92057

4 Beds 4 Baths 2,955 sqft Built 2012

$719,000

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $243.32
  • 5 Days on Market
  • MLS # : 200050250
  • Updated Date : 10/31/2020 at 15:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,955 sqft
  • Baths : 3 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Come live your best life in this gorgeous planned golf community of Arrowood in beautiful Oceanside. A large living room provides a great space to gather while enjoying the warmth from the cozy fireplace with custom raised hearth and surround. Shutters and recessed lighting throughout. The formal dining room adds elegance to all your gatherings. The upgraded kitchen features an abundance of cabinet space, granite counters, gas cooktop and an eat-at center island.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: North Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14082885

* 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
Bonsall West Elementary School Primary Regular 559 8
Norm Sullivan Middle School Middle Regular 579 7
Bonsall High School High Regular 63 6 3

Bonsall West Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers:
8
GreatSchools Rating

Norm Sullivan Middle School

  • Education Level: Middle
  • # of students: 579
  • # of teachers:
7
GreatSchools Rating

Bonsall High School

  • Education Level: High
  • # of students: 63
  • # of teachers: 6
3
GreatSchools Rating
 

$647,100$790,900$719,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,653
Property Tax -$650
Property Insurance -$101
HOA -$100
Property Management Fees -$129
CASH FLOW
-$493

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.

$719,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.8%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$196,285

INVESTMENT

$196,285

Down Payment
$179,750
Rehab Estimate
$5,750
Closing Costs
$10,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $179,750
Loan Amount $539,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$27,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,103

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,140
1$3,1402$3,250
$3,250
RENT COMPS ANALYSIS
  • 1088 Breakaway Dr Oceanside, CA 1
    • 4 beds 4 baths ∙ 2,955 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,955 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.06
    •  
  • 1156 Bellingham Dr Oceanside, CA 2
    • 5 beds 3 baths ∙ 3,110 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,110 Sqft ∙ Built 2014
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jeremy Beauvarlet
1.858.260.0014
Redfin Corporation
BESbswy