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16261 Eagle Lane Huntington Beach, CA 92649

3 Beds 2 Baths 1,400 sqft Built 1960

$899,999

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $642.86
  • 3 Days on Market
  • MLS # : OC21052168
  • Updated Date : 03/12/2021 at 09:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 1 full , 1 half
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Welcome home to this charming 3 bedroom, 2 bathroom Huntington Village home on a CORNER LOT. This home is tastefully upgraded and perfectly maintained. With new insulation, a newer roof, and more upgrades to boast, this home offers an open floorplan with an island that opens into the cozy living room. The extra space off of the living room is being used as a formal dining room or could be a 4th bedroom. The 3 bedrooms provides space to spread out and each of them are situated for privacy. The oversized lot is perfectly manicured and offers space for entertaining and storage. There are 2 10x10 storage sheds on the lot that provide a workshop and extra storage space, but can be anything the new owner imagines! Or you could have access and room to store an RV. Run... dont walk. This one wont last!!

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
Village View Elementary School Primary Regular 555 23 8
Spring View Middle School Middle Regular 798 32 7
Marina High School High Regular 2,438 93 9

Village View Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 23
8
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
 

$809,999$989,999$899,999

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$3,126
Property Tax -$891
Property Insurance -$61
Property Management Fees -$153
CASH FLOW
-$1,111

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.

$899,999

PROJECTED PRICE

$3,120

PROJECTED RENT

0.35%

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

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$244,250

INVESTMENT

$244,250

Down Payment
$225,000
Rehab Estimate
$5,750
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,126

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $225,000
Loan Amount $674,999
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $3,434

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1203$3,6004$3,6005$3,800
$3,800
RENT COMPS ANALYSIS
  • 16261 Eagle Lane Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $2.23
    •  
  • 5382 Hendricksen Drive Huntington Beach, CA 1
    • 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
    •  
  • 6141 Montecito Drive Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,437 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,437 Sqft ∙ Built 1965
    property image
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.51
    •  
  • 5092 Flamingo Circle Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1961
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.30
    •  
  • 5332 Caliente Drive Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1961
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.53
    •  
PROPERTY LISTING DETAILS
Nicole Bottaro
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21052168
Last Updated: 03/12/2021
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