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2826 Turnbull St Oceanside, CA 92054

3 Beds 2 Baths 1,344 sqft Built 1961

$599,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $445.68
  • 3 Days on Market
  • MLS # : 200053825
  • Updated Date : 12/11/2020 at 23:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Sand & Sea Realty, Inc.

Listing Agent's Description

Enchanting Fairy Tale Cottage Style home complete with rustic wood burning fireplace. The homey yet refined fairy tale cottage has an open-plan interior with a wow-factor vaulted ceiling complete with oak beams and a rustic chandelier. Travertine stone floors and granite counter tops add to the earthy feel of this unique property. The romantic master suite features a bumped out seating window as well as dual closets for maximum storage. Solar, newer roof, close to Buddy Todd Park, and so much more- Randi

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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: Loma Alta

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

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

Neighborhood: Loma Alta

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13242885

* 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
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,210
Property Tax -$552
Property Insurance -$61
Property Management Fees -$129
CASH FLOW
-$442

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.

$599,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 9.1%
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$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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$20,572

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
  • $2,522

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1953$2,5504$3,250
$3,250
RENT COMPS ANALYSIS
  • 2826 Turnbull St Oceanside, CA 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 615 Fredricks Ave #123 Oceanside, CA 2
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1978
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.76
    •  
  • 2805 Turnbull St Oceanside, CA 3
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1961
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.81
    •  
  • 1701 S Horne Street Oceanside, CA 4
    • 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1975
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.06
    •  
PROPERTY LISTING DETAILS
Randi Castle
1.619.677.8854
Sand & Sea Realty, Inc.
BESbswy