Score
0Oceanside, CA
886 Gallery Dr
825K
4 beds
3 baths
1,607 sqft
4 bd • 3 ba • 1,607 sf
Educational Use Only — NOT an appraisal or professional advice. — NOT professional advice. See terms
List Price
$825,000
Price/Sq.Ft
$513
Year Built
1993
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 886 Gallery Dr, Oceanside, CA 92057 offers several attractive features. At 1,607 sqft, it's 7% larger than the average 1,500 sqft for similar homes in the area. The price per square foot of $513.38 is competitive for the Oceanside market. The home boasts 4 bedrooms and 3 bathrooms, providing ample space for families or those needing extra rooms. Built in 1993, it's relatively newer compared to many homes in the area, potentially requiring less immediate maintenance. The property has shown strong appreciation, increasing from $199,000 in 1999 to the current listing of $825,000, representing a 314% gain over 24 years (13.1% annualized). The Alamosa Park Elementary School nearby has an excellent rating of 8/10, adding value for families with young children. The home's location in Montage of Rancho Del Oro offers convenient access to shopping, schools, and restaurants, while being just minutes from downtown Oceanside and beaches. Climate risk scores are favorable, with minimal flood (1/10) and wind (1/10) risks, potentially leading to lower insurance costs.
The Bad
The property's current listing price of $825,000 represents a significant 85.4% increase from its last sale price of $445,000 in 2007, which may indicate it's priced at the higher end of the market. The estimated annual insurance cost of $2,970 is relatively high, adding to the overall cost of ownership. The moderate fire risk (4/10) and air quality risk (4/10) could be concerns for some buyers and may impact insurance rates. The home's major heat risk (5/10) with 7 hot days per year and a 98th percentile temperature of 89°F could lead to higher cooling costs and potential discomfort. The nearby Roosevelt Middle School and Vista High School both have average ratings of 5/10, which may be a drawback for families with older children.
The Ugly
The property's rapid price increase and current market conditions could pose risks. If the local real estate market experiences a downturn, the home's value could potentially decrease, especially considering its significant appreciation since 1999. The major heat risk (5/10) could worsen over time due to climate change, potentially increasing cooling costs and impacting comfort. While flood risk is currently minimal, sea level rise could change this in the long term, given Oceanside's coastal location. The home's age (30 years old) means that major systems and appliances may need replacement in the near future, potentially leading to significant expenses. The HOA fees, while including common area maintenance, could increase over time, adding to the cost of ownership. The property's days on market (5 days) and recent listing removal and relisting suggest potential issues with the initial sale attempt, which could indicate hidden problems or overpricing.
Who is this property for?
These details are presented solely for educational purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Growing families: With 4 bedrooms and 3 bathrooms, it can accommodate larger families or those planning to expand.
2. Professionals working in Oceanside or nearby areas: The convenient location offers easy access to amenities and transportation.
3. Buyers with household incomes around $200,000 or more: Based on a 28% front-end debt-to-income ratio and current mortgage rates, this would be a comfortable income level for affordability.
4. Those prioritizing good elementary education: The highly-rated nearby elementary school makes it attractive for families with young children.
5. Buyers looking for a move-in ready home with potential for customization: The property's condition and backyard space offer room for personal touches.
6. Long-term investors: Given the historical appreciation and desirable location, it could be a good option for those looking to build equity over time.
Not For
This property is not ideal for:
1. First-time homebuyers or those with limited budgets: The high price point and potential for additional costs may be challenging for those with tighter finances.
2. Retirees looking to downsize: The two-story layout and larger size may not be suitable for those seeking a smaller, more manageable home.
3. Investors looking for immediate high rental yields: Given the high purchase price, achieving a strong cap rate may be challenging in the current market.
4. Buyers extremely sensitive to climate risks: While risks are moderate, those very concerned about heat, fire, or long-term coastal issues may want to look elsewhere.
5. Families with middle or high school students prioritizing top-rated schools: The average ratings of nearby middle and high schools may be a drawback.
6. Those seeking a unique or historic property: As a relatively newer, standard single-family home, it may not appeal to buyers looking for distinct architectural features or historical significance.
Demographics
Area Median Income
$91,298
Property History
Price History
Ownership Timeline
$445,000Financed
Mar 27, 2007Joseph G Palen, Stephanie M PalenColin D Embrey, Sheryl L Embrey
Grant Deed
Standard Sale (Purchase/Resales)
$199,000Financed
Jan 14, 1999Green Scott A & Consuelo JJoseph G Palen, Stephanie M Palen
Grant Deed
Standard Sale (Purchase/Resales)
Property Taxes
$6,312
2024 Tax Assessment
2.5%from previous year
Assessed Value$584,475
Tax Rate1.08%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
5.0/10
AverageHigh
5.0/10
AverageFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$825,000
Price/sqft
$513
Layout
4 bd•3 ba
Days on market
5 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$811,667
1.6%
Your price is 1.6% above average
Median Price
$835,000
1.2%
Based on 6 recent sales
Price per Sq.Ft
$510
0.7%
Your price is 0.7% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 4655 Los Alamos Way #B, Oceanside, CA 92057 | $800,000 | 1,539 | 3 | 3 | $5201.3% | 11/5/2024 |
| 1295 El Mercado Way #B, Oceanside, CA 92057 | $787,000 | 1,539 | 3 | 3 | $5110.4% | 10/14/2024 |
| 1225 Natoma Way #B, Oceanside, CA 92057 | $835,000 | 1,539 | 3 | 3 | $5435.7% | 8/29/2024 |
| 572 Boysenberry Way, Oceanside, CA 92057 | $843,000 | 1,749 | 3 | 3 | $4826.1% | 9/11/2024 |
| 4819 Ventana Way, Oceanside, CA 92057 | $840,000 | 1,881 | 4 | 3 | $44713.0% | 10/4/2024 |
| 1255 Natoma Way #D, Oceanside, CA 92057 | $765,000 | 1,365 | 3 | 3 | $5609.2% | 9/26/2024 |
4655 Los Alamos Way #B, Oceanside, CA 92057
Price: $800,000
Sq.Ft: 1,539
Beds/Baths: 3/3
$/Sq.Ft:
$5201.3%
Sale Date: 11/5/2024
1295 El Mercado Way #B, Oceanside, CA 92057
Price: $787,000
Sq.Ft: 1,539
Beds/Baths: 3/3
$/Sq.Ft:
$5110.4%
Sale Date: 10/14/2024
1225 Natoma Way #B, Oceanside, CA 92057
Price: $835,000
Sq.Ft: 1,539
Beds/Baths: 3/3
$/Sq.Ft:
$5435.7%
Sale Date: 8/29/2024
572 Boysenberry Way, Oceanside, CA 92057
Price: $843,000
Sq.Ft: 1,749
Beds/Baths: 3/3
$/Sq.Ft:
$4826.1%
Sale Date: 9/11/2024
4819 Ventana Way, Oceanside, CA 92057
Price: $840,000
Sq.Ft: 1,881
Beds/Baths: 4/3
$/Sq.Ft:
$44713.0%
Sale Date: 10/4/2024
1255 Natoma Way #D, Oceanside, CA 92057
Price: $765,000
Sq.Ft: 1,365
Beds/Baths: 3/3
$/Sq.Ft:
$5609.2%
Sale Date: 9/26/2024
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