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3602 Kings Ave Oceanside, CA 92056

4 Beds 2 Baths 1,544 sqft Built 1979

$675,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $437.18
  • 3 Days on Market
  • MLS # : 210002494
  • Updated Date : 01/30/2021 at 02:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Big Block Realty, Inc.

Listing Agent's Description

Welcome home! Beautifully remodeled 4 bedroom 2 bathroom on corner lot. Open spacious living room with fireplace and recessed lighting. Large kitchen and dining room with plenty of cabinet and storage space. New wood like laminate flooring. New carpet in bedrooms. Dual pane windows. Solar. Entertain in the easily maintained private yard with freshly laid sod, tiered garden, and large side gate. Close proximity to shopping, highways, Oceanside and Carlsbad beaches, and more!

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $158k594k

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13332885

* 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
Breeze Hill Elementary School Primary Regular 842 32 8
Madison Middle School Middle Regular 1,164 51 5
Rancho Buena Vista High School High Regular 2,532 119 8

Breeze Hill Elementary School

  • Education Level: Primary
  • # of students: 842
  • # of teachers: 32
8
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 51
5
GreatSchools Rating

Rancho Buena Vista High School

  • Education Level: High
  • # of students: 2,532
  • # of teachers: 119
8
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$2,345
Property Tax -$606
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$455

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.

$675,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 7.8%
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$25k

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,850

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
  • $2,841

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,550
$2,550
RENT COMPS ANALYSIS
  • 3602 Kings Ave Oceanside, CA 1
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1522 Enchantment Ave Vista, CA 2
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 1989
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.84
    •  
PROPERTY LISTING DETAILS
Erick Gydesen
1.858.430.8200
Big Block Realty, Inc.
BESbswy