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1232 Via Candelas (lot 30 Model 3) Oceanside, CA 92056

3 Beds 3 Baths 2,021 sqft Built 2018

$898,990

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $444.82
  • 2 Days on Market
  • MLS # : 210001368
  • Updated Date : 01/17/2021 at 01:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Cove Realty Group

Listing Agent's Description

BRAND NEW GATED CORNERSTONE COMMUNITY SITS ATOP THE CREST OF RANCHO DEL ORO! NEW DETACHED SINGLE FAMILY HOME, 2 STRY, FLEX SPACE, OPEN KITCHEN W/ISLAND, BALCONY, 2 CAR GARAGE, & A PRIVATE FENCED BACK YARD! MODEL HOME INCLUDES ALL APPLIANCES, INTERIOR UPGRADES, BACKYARD BUILT IN BBQ, JETTED TUB, AND SO MUCH MORE ! LOCATED IN THE HIGHLY RANKED IVEY RANCH, MLK, & EL CAMINO SCHOOLS OF OCEANSIDE 3/15/21 - EST OCT COE This is the actual model home itself. Furniture sold separately. (BTV) ALL INFO

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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: Ivey Ranch - Rancho del Oro

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650kPrice in $217k654k

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

Neighborhood: Ivey Ranch - Rancho del Oro

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q215001600170018001900200021002200230024002500260027002800Rent in $14282885

* 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
Ivey Ranch Elementary School Primary Regular 775 28 8
Martin Luther King Jr. Middle School Middle Regular 1,576 57 6
El Camino High School High Regular 3,076 114 8

Ivey Ranch Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 28
8
GreatSchools Rating

Martin Luther King Jr. Middle School

  • Education Level: Middle
  • # of students: 1,576
  • # of teachers: 57
6
GreatSchools Rating

El Camino High School

  • Education Level: High
  • # of students: 3,076
  • # of teachers: 114
8
GreatSchools Rating
 

$809,091$988,889$898,990

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$3,123
Property Tax -$824
Property Insurance -$78
HOA -$175
Property Management Fees -$129
CASH FLOW
-$1,589

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.

$898,990

PROJECTED PRICE

$2,740

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.7%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,982

INVESTMENT

$243,982

Down Payment
$224,748
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,748
Loan Amount $674,243
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$82

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
  • $2,764

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$2,9954$3,0955$3,100
$3,100
RENT COMPS ANALYSIS
  • 1232 Via Candelas (lot 30 Model 3) Oceanside, CA 1
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 140 Venetia Way Oceanside, CA 2
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1999
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.38
    •  
  • 4135 Mission Tree Way Oceanside, CA 3
    • 4 beds 4 baths ∙ 2,157 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,157 Sqft ∙ Built 2019
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.39
    •  
  • 364 Spring Canyon Way Oceanside, CA 4
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.31
    •  
  • 1480 Enchante Way Oceanside, CA 5
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2003
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.39
    •  
PROPERTY LISTING DETAILS
Michael Sabourin
1.858.458.9700
The Cove Realty Group
BESbswy