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16361 Underhill Lane Huntington Beach, CA 92647

4 Beds 3 Baths 2,293 sqft Built 1965

$1,199,000

List Price

$3,810

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $522.90
  • 119 Days on Market
  • MLS # : OC20190792
  • Updated Date : 11/05/2020 at 05:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,293 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Welcome to this beautiful home located in the highly sought after Prestige tract. Enter into this 4 bedroom, 2 1/2 bath home. Step into a gorgeous kitchen boasting marble countertops, farm style sink, white custom cabinets with a built-in refrigerator. The LaCornue stove is enhanced with a custom hand forged hood and beautiful Kibak tile backsplash. The cozy family room off the kitchen is appointed with an ancient reclaimed stone fireplace from Italy. The dining nook is clever with built-in bench seating. For the wine connoisseur there is a large wine storage closet, if wine isn't your thing, make it anything you like. Kick back and relax in the family room appointed with hardwood flooring, beadboard ceiling and built-ins. French doors open from the formal dining area to enjoy the backyard breeze making it convenient for entertaining as well. Enjoy the spacious backyard with a bubbling fountain, outdoor fireplace, built-in bbq and bar area. There are so many details throughout the home, there is even mosaic tile in-lay in the steps going upstairs and the wainscoting at the stairwell. Upstairs there are 4 bedrooms, and two full baths. The master bedroom is spacious and has a walk-in-closet. This home is located close to shopping and award winning schools.

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
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,429$4,191$3,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,810
EXPENSES Loan Payment -$4,165
Property Tax -$1,187
Property Insurance -$82
Property Management Fees -$187
CASH FLOW
-$1,811

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.

$1,199,000

PROJECTED PRICE

$3,810

PROJECTED RENT

0.32%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,165

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,810

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $3,818

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,8003$3,8004$3,8105$4,185
$4,185
RENT COMPS ANALYSIS
  • 16361 Underhill Lane Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,810
    • $1.66
    •  
  • 6071 Montecito Drive Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 1965
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.56
    •  
  • 6162 Montecito Drive Huntington Beach, CA 2
    • 4 beds 4 baths ∙ 2,193 Sqft ∙ Built 1965 4 beds 4 baths ∙ 2,193 Sqft ∙ Built 1965
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.73
    •  
  • 6371 Reubens Drive Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1964
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.66
    •  
  • 16412 Woodstock Lane Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1965
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,185
    • $1.71
    •  
PROPERTY LISTING DETAILS
Sean Stanfield
Pacific Sotheby's Int'l Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20190792
Last Updated: 11/05/2020
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