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1721 Kraft St Oceanside, CA 92058

2 Beds 1 Baths 832 sqft Built 1954

INVESTimate

$499,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$543,860  ( +8.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $599.76
  • 6 Days on Market
  • MLS # : 200040637
  • Updated Date : 08/22/2020 at 15:26
CONSTRUCTION
  • Beds : 2
  • Floor Size : 832 sqft
  • Baths : 1 full
Listing Agent

Re/max Connections

Listing Agent's Description

Don't miss this fabulous opportunity to own a detached home in coastal Oceanside.Freshly painted with new laminate flooring, carpet, ceiling fan & granite kitchen counters. Washer, Dryer, Fridge convey. Large lot with nice shade tree in front, room for additions. 1 car garage with additional parking in driveway/street.Fully fenced. Less than 1/4 mile to ocean, revitalized downtown O'side with hotels/restaurants/wine bars, harbor, pier. Jump on the 20 mile bike path that goes from beach up to N Santa Fe Rd

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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
Mission Elementary School Primary Regular 593 24 2
Oceanside High School High Regular 2,153 89 5
Ocean Shores High (continuation) High Alternative 164 13 NA

Mission Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 24
2
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
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,841
Property Tax -$463
Property Insurance -$48
Property Management Fees -$129
CASH FLOW
-$581

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.

$499,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.99%
Maintenance Year (1-5) 8.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,862

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,9003$1,924
$1,924
RENT COMPS ANALYSIS
  • 1721 Kraft St Oceanside, 2
    • 2 beds 1 baths ∙ 832 Sqft ∙ Built 1954 2 beds 1 baths ∙ 832 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $2.28
    •  
  • 901 Hillcrest Pl #8 Oceanside, 1
    • 2 beds 1 baths ∙ 800 Sqft ∙ Built 1941 2 beds 1 baths ∙ 800 Sqft ∙ Built 1941
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $2.16
    •  
  • 1219 Mitchell St. #b Oceanside, 3
    • 2 beds 1 baths ∙ 957 Sqft ∙ Built 1965 2 beds 1 baths ∙ 957 Sqft ∙ Built 1965
    property image
    LEASED 03/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,924
    • $2.01
    •  
PROPERTY LISTING DETAILS
Stacey Walker
1.760.420.2334
Re/max Connections
BESbswy