120 Alethea Way, Oceanside, California 92057, Oceanside, 92057 - 4 bed, 5 bath

120 Alethea Way
Oceanside, California 92057
Property Price
SUMMARY
Analysis of 120 Alethea Way, Oceanside, California 92057 reveals a Prime Investment Opportunity with a current list price of $1,374,900—significantly undercutting the $1,473,712 Fair Market Value by 7%. This valuation gap indicates a +$98,812 Instant Equity potential for buyers. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Oceanside Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 120 Alethea Way Subject | $1,374,900* List Price | 4 | 5 | 3,866 | $381 | - |
A 5555 Alethea Way Sold | $1,299,900 | 4 | 4 | 3,652 | $356 | 0.0 mi |
B 5522 Dora Way Sold | $1,127,311 | 4 | 4 | 2,928 | $385 | 0.2 mi |
C 5554 Alethea Way Sold | $1,366,066 | 4 | 4 | 3,652 | $374 | 0.0 mi |
D 5550 Midori Way Sold | $1,332,688 | 4 | 4 | 3,209 | $415 | 0.0 mi |
E 274 Hadley Way Sold | $1,368,900 | 4 | 4 | 3,335 | $410 | 0.1 mi |
F 5572 Thoroughbred Street Sold | $1,475,000 | 4 | 4 | 4,296 | $343 | 0.8 mi |
G 130 Mellano Way Active | $1,274,900 List Price | 4 | 4 | 3,494 | $365 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
This property is brand new construction, built in 2025, and is part of a master-planned community. The images, representing a model home, showcase a modern aesthetic with high-quality finishes throughout. The kitchen features contemporary light grey shaker cabinets, white quartz countertops, a stylish subway tile backsplash, and new stainless steel appliances. Bathrooms are equally modern with updated vanities, fixtures, and tiling, including a luxurious freestanding tub in the master. Flooring is a mix of new wood-look planks and fresh carpeting. All systems, including cooling/heating and electrical, are new and meet current standards, indicating no deferred maintenance and minimal physical depreciation. The 'Next Gen' suite with its own kitchenette further enhances its modern appeal and functionality.
PROSSTRENGTHS & OPPORTUNITIES
- Brand New Construction
Built in 2025, this home offers modern design, energy efficiency, and the peace of mind of no immediate maintenance or renovation needs.
- Next Gen® Multi-Generational Living
Features a unique separate suite with its own entrance, living area, kitchenette, and bedroom, perfect for extended family, guests, or potential rental income.
- Extensive Masterplan Amenities
Residents enjoy access to a wealth of community amenities including multiple pools, a recreation center with gym, lounge, conference room, picnic areas, fitness center, and pickleball courts.
CONSRISKS & DEFICIENCIES
- Significant Monthly Association Fees
The property incurs a notable monthly association fee of $360.00, which adds to the overall cost of homeownership.
- Potential for Mello-Roos/Special Assessments
As a new master-planned community, it is highly probable that the property will be subject to Mello-Roos taxes, increasing the annual property tax burden.
- Model Home Discrepancy
The disclaimer that 'Photos or renderings may be of the Model Home and not the actual home' suggests potential variations between marketing visuals and the final property, which could impact buyer expectations.
About 120 Alethea Way
This two-story Next Gen® home features a separate suite with a separate entrance, living area, kitchenette and bedroom for seamless independent living. It features a secluded office is located off the entry, and an open-concept floorplan on the first floor boasts access to a California Room for effortless entertaining and leisure. The owner’s suite is nestled into a private corner at the back of the home. A versatile bonus room is located on the second floor near two secondary bedrooms. There is also a spacious 3 car garage and driveway. The community has wide streets and sidewalks and ample street parking. Walk to: parks, pools, recreation center with gym, lounge, and conference room, extensive trail system, lawns, viewpoint park, hilltop Mahogany is a collection of new and spacious two-story homes now selling at the North River Farms masterplan in Oceanside, CA. Select plans will feature Lennar’s signature Next Gen® suite, complete with a separate entrance, living space, bedroom, bathroom, kitchenette and laundry room. An extensive trail system weaves throughout the community, and residents will enjoy access to onsite amenities, including picnic areas, swimming pools, a fitness center, pickleball courts and much more. Photos or renderings may be of the Model Home and not the actual home.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2025
- Lot Size
- -
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 5 (5 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $360.0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 53% |
| Baths | 5.0 | 2.0 | 99% |
| Square foot | 3,866 | 1,620 | 98% |
| Lot Size | - | 5,382 | 11% |
| Price | $1.37M | $865.0K | 96% |
| Price per sq ft | $356 | $467 | 7% |
| Built year | 2025 | 1988 | 95% |
| HOA | $360.0 | $142 | 76% |
| Days on market | 42 | 164 | 4% |
Pricing History
Listed for Sale
Jan 24, 2026
$1,374,900
Initial Listing




























