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1332 Enchante Way Oceanside, CA 92056

4 Beds 3 Baths 2,227 sqft Built 2002

$650,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $291.87
  • 6 Days on Market
  • MLS # : 200050153
  • Updated Date : 11/02/2020 at 16:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,227 sqft
  • Baths : 3 full
Listing Agent

Pasas Properties

Listing Agent's Description

This highly sought after Rancho Del Oro modern home features 9 ft ceilings, open bright floor plan with lots of natural light.  Enjoy the spacious gourmet kitchen with island, huge 20" tile flooring. The master bedroom is large with an organized walk-in closet, dual sinks and separate tub/shower. Enjoy the inviting back yard w/built-in BBQ and low maintenance landscaping. Wow, a whole house water purification/filtration system (no need for bottled water).  Relaxing fountain. Top-rated Ivy Ranch schools.

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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: 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,398
Property Tax -$596
Property Insurance -$83
HOA -$124
Property Management Fees -$129
CASH FLOW
-$550

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.

$650,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

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

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$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$17,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $3,045

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7803$2,9954$3,0955$3,100
$3,100
RENT COMPS ANALYSIS
  • 1332 Enchante Way Oceanside, CA 2
    • 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.25
    •  
  • 140 Venetia Way Oceanside, CA 1
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1999
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.39
    •  
PROPERTY LISTING DETAILS
Linda Pasas
1.619.977.4650
Pasas Properties
BESbswy