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1264 Loretta St Oceanside, CA 92058

3 Beds 2 Baths 1,132 sqft Built 1959

$499,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $441.61
  • 8 Days on Market
  • MLS # : 200054375
  • Updated Date : 12/23/2020 at 23:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,132 sqft
  • Baths : 2 full
Listing Agent

Estate Realty, Inc.

Listing Agent's Description

Affordable beach-close property! 3 bedrooms, 2 baths, with a 2 car garage. Newer windows and furnace. Fumigated approximately 3 months ago.

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MARKET HIGHLIGHTS

  • 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)
  • 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]

PRICE & RENT TRENDS

Neighborhood: East Side Capistrano

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $154k594k

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

Neighborhood: East Side Capistrano

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12742885

* 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
Laurel Elementary School Primary Regular 509 24 3
Oceanside High School High Regular 2,153 89 5
Ocean Shores High (continuation) High Alternative 164 13 NA

Laurel Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 24
3
GreatSchools Rating

Oceanside High School

  • Education Level: High
  • # of students: 2,153
  • # of teachers: 89
5
GreatSchools Rating

Ocean Shores High (continuation)

  • Education Level: High
  • # of students: 164
  • # of teachers: 13
NA
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,844
Property Tax -$464
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$123

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$499,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$40,611

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
  • $2,517

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9753$2,2994$2,800
$2,800
RENT COMPS ANALYSIS
  • 1264 Loretta St Oceanside, CA 1
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1425 Dubuque #b Oceanside, CA 2
    • 3 beds 1 baths ∙ 992 Sqft ∙ Built 1940 3 beds 1 baths ∙ 992 Sqft ∙ Built 1940
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.99
    •  
  • 202 S Nevada St. #f Oceanside, CA 3
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1973
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $2.09
    •  
  • 518 Capistrano Dr Oceanside, CA 4
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1959
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.59
    •  
PROPERTY LISTING DETAILS
Eric Sanders
1.858.205.2269
Estate Realty, Inc.
BESbswy