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4605 Magens Bay Oceanside, CA 92057

3 Beds 2 Baths 1,134 sqft Built 1988

$625,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $551.15
  • 4 Days on Market
  • MLS # : 200052107
  • Updated Date : 11/19/2020 at 22:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

This fully-renovated Oceanside single story is nestled on a cul-de-sac where you will enjoy greeting your neighbors like in days gone by. The meticulously maintained front yard features exterior lighting on the house and landscape lighting that adds dramatic illumination to the palms. As you enter you will gaze upon a light and bright open floor plan that allows the living room, dining area and kitchen to flow seamlessly together.

SEE MORE

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: North Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550kPrice in $205k594k

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

Neighborhood: North Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14082885

* 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
Reynolds Elementary School Primary Regular 641 26 5
Martin Luther King Jr. Middle School Middle Regular 1,576 57 6
El Camino High School High Regular 3,076 114 8

Reynolds Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 26
5
GreatSchools Rating

Martin Luther King Jr. Middle School

  • Education Level: Middle
  • # of students: 1,576
  • # of teachers: 57
6
GreatSchools Rating

El Camino High School

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

$562,500$687,500$625,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,306
Property Tax -$583
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$863

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$625,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.80%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,936

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,210

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $2,058

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,3503$2,495
$2,495
RENT COMPS ANALYSIS
  • 4605 Magens Bay Oceanside, CA 1
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.95
    •  
  • 4244 Arcata Bay Way Oceanside, CA 2
    • 3 beds 3 baths ∙ 1,299 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,299 Sqft ∙ Built 1982
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.81
    •  
  • 4030 Craven Rd #26 Oceanside, CA 3
    • 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,372 Sqft ∙ Built 2003
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.82
    •  
PROPERTY LISTING DETAILS
Jeremy Beauvarlet
1.858.260.0014
Redfin Corporation
BESbswy