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4316 Mirage Ln Oceanside, CA 92056

2 Beds 2 Baths 1,461 sqft Built 1978

$499,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $341.55
  • 6 Days on Market
  • MLS # : 210002168
  • Updated Date : 01/29/2021 at 19:36
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent

Henry Wright Realty

Listing Agent's Description

Pacifica Manor private, detached BEAUTY! Freshly updated 2 bedroom PLUS den/office with 1,461 SF, this model rarely comes on the market in this 55 or better neighborhood. Thoughtful floor plan with patio access from 2 sliding glass doors. Vaulted ceilings in the bright, light living room with wood burning, gas fireplace for chilly evenings, separate dining area with an 'eat at the counter breakfast bar'. Enjoy the features of this lovely community - pool, spa, tennis courts and more. Don't miss this one!

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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,733
Property Tax -$448
Property Insurance -$64
HOA -$390
Property Management Fees -$129
CASH FLOW
-$224

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.

$499,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.51%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$21,180

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
  • $2,683

    COMP ESTIMATED VALUE
  • $1.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,2254$2,400
$2,400
RENT COMPS ANALYSIS
  • 4316 Mirage Ln Oceanside, CA 1
    • 2 beds 2 baths ∙ 1,461 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,461 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3688 Harvard Dr Oceanside, CA 2
    • 2 beds 2 baths ∙ 1,190 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,190 Sqft ∙ Built 1975
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.85
    •  
  • 2836 Winthrop Ave Carlsbad, CA 3
    • 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,112 Sqft ∙ Built 1987
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $2.00
    •  
  • 4094 Arcadia Way Oceanside, CA 4
    • 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,444 Sqft ∙ Built 1987
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.66
    •  
PROPERTY LISTING DETAILS
Lisa De Jesus
1.760.313.1000
Henry Wright Realty
BESbswy