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PROPERTY INFO
FACTS
- Single Family
- Built In 1960
- Price/Sqft : $778.97
- 4 Days on Market
- MLS # : OC20264860
- Updated Date : 12/31/2020 at 18:39
CONSTRUCTION
- Beds : 3
- Floor Size : 1,122 sqft
- Baths : 2 full
Listing Agent
Seven Gables Real Estate
Listing Agent's Description
Nestled on a charming lot, sits this lovely single level family home. With ease of access to both parks and the beach, this house offers a variety of features that any family would love! This home includes 3-bedrooms, 2-bathrooms and a living room featuring light and bright French doors and a beautiful fireplace. Flowing from the living room, you enter a spacious upgraded kitchen with stainless steel appliances and eat in dining room. The french doors open up to a functional patio that leads you out to the gorgeous backyard. The backyard is perfect for entertaining family and friends while you enjoy the covered patio or taking a dip in your above ground hot tub. While this home also offers extra, ample storage in the garage, this home is also upgraded with many features you can not even see. Additional upgrades include recessed lighting, smooth ceilings, upgraded flooring and beautiful counter tops. This home truly is move in ready. A wonderful home located close to Huntington Harbor and Bella Terra Shopping center. Schedule a showing today!
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MARKET HIGHLIGHTS
- 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.
- 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)
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 | $3,090 |
| EXPENSES | Loan Payment | -$3,225 |
| Property Tax | -$866 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
-$1,206
|
||
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.
$874,000
PROJECTED PRICE
$3,090
PROJECTED RENT
0.35%
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
$237,360
LOAN DETAILS
$3,225
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $218,500 |
| Loan Amount | $655,500 |
0.33
YEARS SAVED
$544
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,090
LIST RENT -
$2.75
LIST RENT PER SQFT
-
$2,735
COMP ESTIMATED VALUE -
$2.44
COMP AVG. RENT PER SQFT
Comps Range
-
16211 Eagle Lane Huntington Beach, CA 4
- 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1960
![property image]()
- Rent
- Rent Per SQFT
- $3,090
- $2.75
-
5141 Cheryl Drive Huntington Beach, CA 1
- 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1960
![property image]()
LEASED 01/22/20- Rent
- Rent Per SQFT
- $2,795
- $2.50
-
4791 Lago Drive Huntington Beach, CA 2
- 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1980
![property image]()
LEASED 01/12/20- Rent
- Rent Per SQFT
- $2,950
- $2.32
-
5382 Hendricksen Drive Huntington Beach, CA 3
- 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1962
![property image]()
LEASED 09/27/20- Rent
- Rent Per SQFT
- $3,000
- $2.47
-
4551 Minuet Drive Huntington Beach, CA 5
- 4 beds 2 baths ∙ 1,279 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,279 Sqft ∙ Built 1963
![property image]()
LEASED 01/25/20- Rent
- Rent Per SQFT
- $3,150
- $2.46
PROPERTY LISTING DETAILS
Seven Gables Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20264860
Last Updated: 12/31/2020
