Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

241 Sorrel Tree Place Oceanside, CA 92057

3 Beds 2 Baths 1,006 sqft Built 1986

INVESTimate

$499,000

List Price

$2,240

$2,016 - $2,464

Rent Est.

$539,120  ( +8.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $496.02
  • 6 Days on Market
  • MLS # : 200040559
  • Updated Date : 08/24/2020 at 19:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,006 sqft
  • Baths : 2 full
Listing Agent

The Lund Team, Inc

Listing Agent's Description

Sensational opportunity! A single level residence within the Murray Mission community conveniently located on a cul-de-sac, steps away from walking paths/greenbelt. Pride of ownership shows in the updated kitchen w/stainless steel appliances. Dual pane vinyl windows, A/C, new flooring throughout living room, kitchen and bedrooms. Low HOA w/ pool and two spas. Walking distance to Mance Buchanan Park and Cesar Chavez Middle School. Short drive to local shopping, Sprouts, schools and much more!

SEE MORE

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: San Luis Rey

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $171k594k

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

Neighborhood: San Luis Rey

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13292885

* 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
Del Rio Elementary School Primary Regular 442 17 2
Cesar Chavez Middle School Middle Regular 742 32 5
El Camino High School High Regular 3,076 114 8

Del Rio Elementary School

  • Education Level: Primary
  • # of students: 442
  • # of teachers: 17
2
GreatSchools Rating

Cesar Chavez Middle School

  • Education Level: Middle
  • # of students: 742
  • # of teachers: 32
5
GreatSchools Rating

El Camino High School

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

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

PURCHASE PRICE

$2,016$2,464$2,240

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-$5.0k$0.0$5.0k$10k$15k

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 $2,240
EXPENSES Loan Payment -$1,841
Property Tax -$463
Property Insurance -$53
HOA -$170
Property Management Fees -$129
CASH FLOW
-$415

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

$2,240

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.04%
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 60% 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

2.92

YEARS SAVED

$13,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $2,009

    COMP ESTIMATED VALUE
  • $2

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2403$2,3504$2,600
$2,600
RENT COMPS ANALYSIS
  • 241 Sorrel Tree Place Oceanside, 2
    • 3 beds 2 baths ∙ 1,006 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,006 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $2.23
    •  
  • 805 Pillar Point Way Oceanside, 1
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1986
    property image
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.87
    •  
  • 258 Manzanita Dr Oceanside, 3
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1986
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.06
    •  
  • 109 Avenida Las Brisas #a Oceanside, 4
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1979
    property image
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.06
    •  
PROPERTY LISTING DETAILS
Garrett Lund
1.760.438.0800
The Lund Team, Inc
BESbswy