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15322 Stanford Lane Huntington Beach, CA 92647

3 Beds 1 Baths 1,032 sqft Built 1962

$769,900

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $746.03
  • 7 Days on Market
  • MLS # : OC20240499
  • Updated Date : 11/18/2020 at 13:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,032 sqft
  • Baths : 1 full
Listing Agent

Previewoc Real Estate

Listing Agent's Description

Upgraded single-story 3-bed / 2-bath home, located on a quiet, inside tract location. This gorgeous turnkey home features newer central AC and heating system, dual-pane windows, doors, baseboards and recessed lighting throughout. A fully remodeled kitchen with custom cabinets, granite counters, self-closing cabinet doors, breakfast counter and high-end stainless steel appliances, including a newer/super quiet Bosch dishwasher. The Kitchen opens up to the Family Room with wood-burning brick masonry fireplace. The original hardwood floors throughout the home have been brought back to their original condition with travertine tile flooring in the Kitchen and bathrooms. Both bathrooms have been fully remodeled which include travertine tile / mosaic design, upgraded cabinetry and stylish lighting. The master bath has been expanded offering an oversized walk-in shower. The back yard has newer tile pavers with a plenty of space to relax under the stylishly shaded outdoor pergola with overhead LED lighting. Newer roof includes a ridge vents that keeps the cooling costs down. Situated near multiple shopping centers, restaurants and eateries, including the Westminster Mall, Bella Terra Shopping Mall and Old World Village. Plus, very close proximity to Golden West College, local parks and transportation. Top-ranked Schroeder Elementary is literally just up the street and it's a quick trip to Helen Stacey Middle School and Marina High School.

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MARKET HIGHLIGHTS

  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County 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 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k844k

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

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21800200022002400260028003000320034003600Rent in $17803620

* 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
Schroeder Elementary School Primary Regular 636 25 8
Helen Stacey Middle School Middle Regular 907 39 8
Marina High School High Regular 2,438 93 9

Schroeder Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 25
8
GreatSchools Rating

Helen Stacey Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 39
8
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 93
9
GreatSchools Rating
 

$692,910$846,890$769,900

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$2,841
Property Tax -$793
Property Insurance -$52
Property Management Fees -$141
CASH FLOW
-$956

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.

$769,900

PROJECTED PRICE

$2,870

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,774

INVESTMENT

$209,774

Down Payment
$192,475
Rehab Estimate
$5,750
Closing Costs
$11,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $192,475
Loan Amount $577,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $2.78

    LIST RENT PER SQFT
  • $2,516

    COMP ESTIMATED VALUE
  • $2.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,870
1$2,8702$2,9503$3,1004$3,1505$3,195
$3,195
RENT COMPS ANALYSIS
  • 15322 Stanford Lane Huntington Beach, CA 1
    • 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $2.78
    •  
  • 14592 Aspen Circle Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1964
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.42
    •  
  • 15162 Newcastle Lane Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1962
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.44
    •  
  • 15641 Mayflower Lane Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,330 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,330 Sqft ∙ Built 1964
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.37
    •  
  • 6151 Dundee Drive Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1964
    property image
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.52
    •  
PROPERTY LISTING DETAILS
James Hoppe
Previewoc Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20240499
Last Updated: 11/18/2020
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