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644 Rockledge St Oceanside, CA 92054

3 Beds 3 Baths 2,382 sqft Built 1953

$1,190,000

List Price

$3,890

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $499.58
  • 2 Days on Market
  • MLS # : 210001375
  • Updated Date : 01/17/2021 at 03:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,382 sqft
  • Baths : 3 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Oceanside Gem West of 5! Beautiful completely remodeled single story home with sweeping canyon views. Very private home on large lot at the end of the cul-de-sac.. Plenty of room in the home for additional home office space /remote learning in the large bonus area..PLUS Plans pending for self contained 1 bedroom unit w/kitchen for extra income? Tons of Parking & room for RV! Perfect for 1031 exchange buyer too Just minutes to the beach, train station, restaurants, local farmers market & so much more!

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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: Downtown Oceanside

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $187k711k

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

Neighborhood: Downtown Oceanside

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* 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
Laurel Elementary School Primary Regular 509 24 3
Lincoln Middle School Middle Regular 884 37 4
Oceanside High School High Regular 2,153 89 5

Laurel Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 24
3
GreatSchools Rating

Lincoln Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 37
4
GreatSchools Rating

Oceanside High School

  • Education Level: High
  • # of students: 2,153
  • # of teachers: 89
5
GreatSchools Rating
 

$1,071,000$1,309,000$1,190,000

PURCHASE PRICE

$3,501$4,279$3,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,890
EXPENSES Loan Payment -$4,133
Property Tax -$1,096
Property Insurance -$87
Property Management Fees -$129
CASH FLOW
-$1,556

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.

$1,190,000

PROJECTED PRICE

$3,890

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 5.7%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$321,100

INVESTMENT

$321,100

Down Payment
$297,500
Rehab Estimate
$5,750
Closing Costs
$17,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,133

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $297,500
Loan Amount $892,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,308

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
  • $4,502

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,500
$4,500
RENT COMPS ANALYSIS
  • 644 Rockledge St Oceanside, CA 1
    • 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 644 Rockledge Oceanside, CA 2
    • 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,382 Sqft ∙ Built 1953
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.89
    •  
PROPERTY LISTING DETAILS
Debe Mcinnis
1.858.722.2989
Pacific Sotheby's Int'l Realty
BESbswy