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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $524.63
- 3 Days on Market
- MLS # : PW20249511
- Updated Date : 12/04/2020 at 08:25
CONSTRUCTION
- Beds : 4
- Floor Size : 1,599 sqft
- Baths : 3 full
Listing Agent
Coldwell Banker Coastal Alliance
Listing Agent's Description
Don't miss this move-in ready, dual master suite expanded home on an oversized, corner lot in Huntington Beach! Pride of ownership is evident in this upgraded home featuring a large private master suite addition with walk-in closet, desk nook, & en-suite bath with a stunning marble countertop. Relax & enjoy the light and bright living room with oversized, energy-efficient windows which let in so much natural light. The open concept living and dining rooms share a stunning arched ceiling detail, open to a large kitchen with granite countertops. Down the hall is a full bathroom, 2 bedrooms and a 2nd master bedroom with an updated en-suite bath - perfect guest or in-law suite! Expansive entertainer's backyard features an outdoor dining space with string lights, speakers, built-in concrete benches surrounding a gas fire pit, well-maintained lawn with plenty of space to add a pool, surrounded by a raised block wall. The possibilities are endless! Bonus features include: Solar panels, 3yr old roof, upgraded PEX piping throughout, surround sound in living room (hardwired in hall closet), smooth ceilings, recessed lighting, paneled doors, ceiling fans throughout, dual pane windows, oversized driveway, with RV and boat parking potential. Convenient to freeways, Bella Terra shopping, Beach Blvd., award-winning schools, parks, restaurants, & of course, the beach!
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MARKET HIGHLIGHTS
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,170 |
| EXPENSES | Loan Payment | -$3,095 |
| Property Tax | -$850 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$155 | |
|
CASH FLOW
-$996
|
||
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.
$838,880
PROJECTED PRICE
$3,170
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$228,053
LOAN DETAILS
$3,095
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $209,720 |
| Loan Amount | $629,160 |
0.67
YEARS SAVED
$2,533
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,170
LIST RENT -
$1.98
LIST RENT PER SQFT
-
$3,246
COMP ESTIMATED VALUE -
$2.03
COMP AVG. RENT PER SQFT
Comps Range
-
15401 Shasta Lane Huntington Beach, CA 2
- 4 beds 3 baths ∙ 1,599 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,599 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $3,170
- $1.98
-
7262 Carlton Avenue Westminster, CA 1
- 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1968
LEASED 12/31/19- Rent
- Rent Per SQFT
- $3,000
- $1.79
-
15171 Victoria Lane Huntington Beach, CA 3
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1962
LEASED 10/02/20- Rent
- Rent Per SQFT
- $3,200
- $2.13
-
6972 Dresden Circle Huntington Beach, CA 4
- 4 beds 2 baths ∙ 1,504 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,504 Sqft ∙ Built 1962
LEASED 05/02/20- Rent
- Rent Per SQFT
- $3,400
- $2.26
-
7631 Rhone Lane Huntington Beach, CA 5
- 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1963
LEASED 04/01/20- Rent
- Rent Per SQFT
- $3,400
- $1.94
PROPERTY LISTING DETAILS
Coldwell Banker Coastal Alliance
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20249511
Last Updated: 12/04/2020
