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4328 Manchester Avenue Encinitas, CA 92024

4 Beds 2 Baths 2,036 sqft Built 1975

$998,000

List Price

$3,990

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $490.18
  • 7 Days on Market
  • MLS # : 200051819
  • Updated Date : 11/22/2020 at 02:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,036 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Tucked away down a long private drive, this ranch-style home rests upon a flat, 0.61-acre flag lot with vistas of the Escondido Creek. The 1-story floor plan has 4BR/2BA, open beamed ceilings in the living/family rooms and sliding doors off the kitchen & master leading to the expansive backyard. Situated in Olivenhain & bordering the western portion of Rancho Santa Fe, you will benefit from the peace & privacy of a rural community in a city-close locale. Fixer opportunity! Located in floodplain zone AE.

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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: Olivenhain

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $240k1055k

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

Neighborhood: Olivenhain

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600380040004200Rent in $16274241

* 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
Park Dale Lane Elementary School Primary Regular 536 23 6
Diegueno Middle School Middle Regular 952 39 9
La Costa Canyon High School High Regular 2,013 79 9

Park Dale Lane Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 23
6
GreatSchools Rating

Diegueno Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 39
9
GreatSchools Rating

La Costa Canyon High School

  • Education Level: High
  • # of students: 2,013
  • # of teachers: 79
9
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$3,591$4,389$3,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,990
EXPENSES Loan Payment -$3,682
Property Tax -$899
Property Insurance -$78
Property Management Fees -$129
CASH FLOW
-$798

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.

$998,000

PROJECTED PRICE

$3,990

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.41%
Appreciation Year (1-5) 6.2%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$27,519

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 4328 Manchester Avenue Encinitas, CA
    • 4 beds 2 baths ∙ 2,036 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,036 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Maxine Gellens
1.858.551.6630
Berkshire Hathaway Homeservice
BESbswy