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4213 Corte Court Oceanside, CA 92057

4 Beds 3 Baths 2,666 sqft Built 2018

$829,500

List Price

$3,510

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $311.14
  • 12 Days on Market
  • MLS # : 200054584
  • Updated Date : 01/02/2021 at 21:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,666 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Experience this Amazing & Spacious gem in the newer community of Mission Lane. Features include Expansive Great Room with fireplace & extensive upgrades including kitchen w/ backsplash, center island, wainscoting, custom plantation shutters, crown molding, recessed lighting, Shiplap. Extra loft area perfect for media/playroom/office space or 5th bedroom. Amazing backyard with over $100K in upgrades, stylish pool and low maintenance landscaping! Close and convenient to shopping, eateries & nearby beaches.

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: San Luis Rey

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $171k594k

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

Neighborhood: San Luis Rey

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13292885

* 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
Nichols Elementary School Primary Regular 722 29 5
Cesar Chavez Middle School Middle Regular 742 32 5
El Camino High School High Regular 3,076 114 8

Nichols Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 29
5
GreatSchools Rating

Cesar Chavez Middle School

  • Education Level: Middle
  • # of students: 742
  • # of teachers: 32
5
GreatSchools Rating

El Camino High School

  • Education Level: High
  • # of students: 3,076
  • # of teachers: 114
8
GreatSchools Rating
 

$746,550$912,450$829,500

PURCHASE PRICE

$3,159$3,861$3,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$3,060
Property Tax -$771
Property Insurance -$94
HOA -$115
Property Management Fees -$129
CASH FLOW
-$660

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.

$829,500

PROJECTED PRICE

$3,510

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 8.0%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,568

INVESTMENT

$225,568

Down Payment
$207,375
Rehab Estimate
$5,750
Closing Costs
$12,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,060

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,375
Loan Amount $622,125
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$23,812

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
  • $3,492

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,095
$3,095
RENT COMPS ANALYSIS
  • 4213 Corte Court Oceanside, CA 1
    • 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,666 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 364 Spring Canyon Way Oceanside, CA 2
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.31
    •  
PROPERTY LISTING DETAILS
Brent Ringoot
1.858.243.3673
Berkshire Hathaway Homeservice
BESbswy