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4119 Thomas St Oceanside, CA 92056

3 Beds 2 Baths 1,648 sqft Built 1965

$564,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $342.78
  • 6 Days on Market
  • MLS # : 210003440
  • Updated Date : 02/12/2021 at 21:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Beautifully upgraded 3 bed 2 bath home in Oceanside. Gorgeous open concept kitchen features new stainless steel appliances, quartz countertops, tile backsplash, recessed lighting, hardware and fixtures. New paint, laminate flooring in common areas, carpet and in bedrooms and thoughtfully updated bathrooms. Plenty of living space as well as central heating and air. Two car attached garage with laundry hook ups. Enclosed backyard. Walking distance to John Landes Park. Sq Ft doesn't match title records.

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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: Tri-City

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $184k594k

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

Neighborhood: Tri-City

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13002885

* 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
Grapevine Elementary School Primary Regular 634 28 5
Madison Middle School Middle Regular 1,164 51 5
Rancho Buena Vista High School High Regular 2,532 119 8

Grapevine Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 28
5
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
 

$508,410$621,390$564,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,962
Property Tax -$507
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$187

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.

$564,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 6.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,449

INVESTMENT

$155,449

Down Payment
$141,225
Rehab Estimate
$5,750
Closing Costs
$8,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,225
Loan Amount $423,675
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$32,266

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
  • $2,530

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$2,750
$2,750
RENT COMPS ANALYSIS
  • 4119 Thomas St Oceanside, CA 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 933 Granada Oceanside, CA 2
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1980
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.61
    •  
  • 1594 Boulder Creek Rd Oceanside, CA 3
    • 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1980
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.46
    •  
PROPERTY LISTING DETAILS
Judi Reimer
1.310.948.5755
First Team Real Estate
BESbswy