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15792 Tullow Lane Huntington Beach, CA 92647

3 Beds 2 Baths 1,845 sqft Built 1962

$915,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $495.93
  • 4 Days on Market
  • MLS # : OC20228769
  • Updated Date : 11/02/2020 at 12:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,845 sqft
  • Baths : 2 full
Listing Agent

Re/max Select One

Listing Agent's Description

One of a kind "Craftsman" style beach home with 643 square feet of permitted additions along with a complete remodel in 2006. This gorgeous home offers high quality upgrades throughout including an expanded kitchen with custom cabinets, granite counters, stainless steel appliances including a Thermador range + a garden window. The open concept living room flows into the nice sized dining room. There is an expanded master bedroom suite with a bay window and a walk-in closet offering built-in shelving and a tubular skylight. The completely remodeled hall bath features a marble tiled shower, slate tile flooring and a tubular skylight. The expanded master bath offers a separate tub & shower. The 2nd bedroom comes with a murphy bed and the 3rd bedroom has built-in's, perfect for a home office space. There is an inside laundry room and the garage has built-in shelving plus an epoxy floor. Bonus features include; real hard wood flooring throughout, dual pane windows, recessed lighting, smooth ceilings, ceiling fan's, solid panel doors, a whole house fan, rain gutters + the roof is 14 years old. The private rear yard features a nice deck and several fruit tree's, including an avocado tree. The front of the home has really nice curb appeal with a fully permitted deck and lattice patio cover. This lovely home is also walking distance to award winning schools, several parks, restaurants, shopping + only a few miles from the beach or Bella Terra Mall!

SEE MORE

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

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
Circle View Elementary School Primary Magnet 711 25 10
Spring View Middle School Middle Regular 798 32 7
Marina High School High Regular 2,438 93 9

Circle View Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 25
10
GreatSchools Rating

Spring View Middle School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
7
GreatSchools Rating

Marina High School

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

$823,500$1,006,500$915,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$3,376
Property Tax -$913
Property Insurance -$72
Property Management Fees -$161
CASH FLOW
-$1,232

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.

$915,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$248,225

INVESTMENT

$248,225

Down Payment
$228,750
Rehab Estimate
$5,750
Closing Costs
$13,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,376

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $228,750
Loan Amount $686,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,552

    COMP ESTIMATED VALUE
  • $1.93

    COMP AVG. RENT PER SQFT
Comps Range
$3,290
1$3,2902$3,3503$3,5004$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 15792 Tullow Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.78
    •  
  • 16112 Windemeir Lane Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.95
    •  
  • 16362 Woodstock Lane Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1965
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.91
    •  
  • 16192 Windemeir Lane Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1965
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.04
    •  
  • 15921 Carrie Lane Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1962
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.80
    •  
PROPERTY LISTING DETAILS
Randolph Aguilar
Re/max Select One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20228769
Last Updated: 11/02/2020
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