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4190 Rhodes Way Oceanside, CA 92056

2 Beds 2 Baths 1,800 sqft Built 1989

$699,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $388.33
  • 16 Days on Market
  • MLS # : 200051091
  • Updated Date : 11/21/2020 at 06:35
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Real Brokerage Technologies

Listing Agent's Description

Light, air, outdoor space, and solitude for sale! Single-story St. Tropez model in the 55+ resort-style community of Ocean Hills Country Club. Oversized private patio area with mature landscaping on a larger corner lot. Gated community with amenities and green space. Perfect spot to work, relax, AND retire. Great neighborhood to go out for leisurely strolls.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ocean Hills

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $217k840k

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

Neighborhood: Ocean Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q2160018002000220024002600280030003200Rent in $14283384

* 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
Lake Elementary School Primary Regular 809 32 6
Madison Middle School Middle Regular 1,164 51 5
Rancho Buena Vista High School High Regular 2,532 119 8

Lake Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 32
6
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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,579
Property Tax -$620
Property Insurance -$72
HOA -$509
Property Management Fees -$129
CASH FLOW
-$1,029

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$699,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.56%
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

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$474

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
  • $2,709

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,7004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 4190 Rhodes Way Oceanside, CA 1
    • 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5328 Don Ricardo Drive Carlsbad, CA 2
    • 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1974 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1974
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.46
    •  
  • 3420 Don Alberto Drive Carlsbad, CA 3
    • 2 beds 2 baths ∙ 1,796 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,796 Sqft ∙ Built 1984
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.50
    •  
  • 4740 Miletus Way Oceanside, CA 4
    • 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 1986
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.56
    •  
  • 4744 Galicia Way Oceanside, CA 5
    • 2 beds 2 baths ∙ 1,899 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,899 Sqft ∙ Built 1985
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.50
    •  
PROPERTY LISTING DETAILS
Alan Hamrick
1.619.322.3321
Real Brokerage Technologies
BESbswy