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359 Justina Dr Oceanside, CA 92057

4 Beds 4 Baths 2,665 sqft Built 1991

INVESTimate

$839,000

List Price

$3,310

$3,060 - $3,560

Rent Est.

$895,213  ( +6.70%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $314.82
  • 6 Days on Market
  • MLS # : 200040535
  • Updated Date : 08/23/2020 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,665 sqft
  • Baths : 3 full , 1 half
Listing Agent

The One Percent Solution

Listing Agent's Description

Mediterranean beauty! Enter thru the private courtyard to soaring ceilings.A new kitchen awaits with all the amenities-gleaming quartz counters ,stainless appliances, double ovens & a center island.Home features the master bedroom downstairs.3 more bedrooms upstairs-1 could be a 2nd master or teens room. This home is totally turnkey with lots of upgrades,like AC,new kitchen,new fencing,new garage doors ,new interior,paint,leased solar Low HOAs & no Mello roos.SO much to love!

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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: 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
 

$755,100$922,900$839,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,096
Property Tax -$771
Property Insurance -$94
HOA -$75
Property Management Fees -$129
CASH FLOW
-$854

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.

$839,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.70%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$228,085

INVESTMENT

$228,085

Down Payment
$209,750
Rehab Estimate
$5,750
Closing Costs
$12,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,096

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $209,750
Loan Amount $629,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$13,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $3,429

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,975
1$2,9752$3,1003$3,2004$3,310
$3,310
RENT COMPS ANALYSIS
  • 359 Justina Dr Oceanside, 4
    • 4 beds 4 baths ∙ 2,665 Sqft ∙ Built 1991 4 beds 4 baths ∙ 2,665 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $1.24
    •  
  • 364 Spring Canyon Way Oceanside, 1
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    LEASED 03/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.26
    •  
  • 1216 Masterpiece Oceanside, 2
    • 5 beds 3 baths ∙ 2,415 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,415 Sqft ∙ Built 1992
    LEASED 03/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.28
    •  
  • 3837 Carnegie Dr. Oceanside, 3
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1991
    LEASED 05/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.32
    •  
PROPERTY LISTING DETAILS
Nancy Lavelle
1.760.420.1882
The One Percent Solution
BESbswy