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260 Manzanilla Way Oceanside, CA 92057

3 Beds 3 Baths 2,157 sqft Built 2002

$700,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $324.52
  • 8 Days on Market
  • MLS # : 200050097
  • Updated Date : 10/30/2020 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,157 sqft
  • Baths : 2 full , 1 half
Listing Agent

Stoneridge Realty

Listing Agent's Description

3BR+Optional+loft. Open floorplan w/vaulted ceilings, laminate flooring, & a grand staircase. Kitchen has granite counters, & an island with travertine tiles, custom backsplash, & SS appliances. Family Rm has built ins & a gorgeous fireplace. 3rd car garage is an opt bedrm, office, workout rm, or convert back to a garage. Laundry rm off of kitchen, updated powder rm. Upstairs has LRG open loft that makes a great office or play area. Lg master suite w/2 walk in closets & a spacious bathroom. See Supplement

SEE MORE

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
Nichols Elementary School Primary Regular 722 29 5
Martin Luther King Jr. Middle School Middle Regular 1,576 57 6
El Camino High School High Regular 3,076 114 8

Nichols Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 29
5
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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,583
Property Tax -$649
Property Insurance -$81
HOA -$126
Property Management Fees -$129
CASH FLOW
-$838

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.

$700,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.39%

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

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,756

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$2,7304$2,8005$3,095
$3,095
RENT COMPS ANALYSIS
  • 260 Manzanilla Way Oceanside, CA 3
    • 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.27
    •  
  • 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
    •  
  • 4313 Deer Valley Way Oceanside, CA 2
    • 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,291 Sqft ∙ Built 2002
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.18
    •  
  • 827 Mosaic Cir Oceanside, CA 4
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1991
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.24
    •  
  • 364 Spring Canyon Way Oceanside, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Anne Grimes
1.619.253.6869
Stoneridge Realty
BESbswy