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16572 Nube Lane # 74A Huntington Beach, CA 92649

3 Beds 2 Baths 925 sqft Built 1973

INVESTimate

$525,000

List Price

$2,210

$1,989 - $2,431

Rent Est.

$552,405  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1973
  • Price/Sqft : $567.57
  • 9 Days on Market
  • MLS # : OC20162898
  • Updated Date : 08/24/2020 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 925 sqft
  • Baths : 1 full , 1 half
Listing Agent

Kahler Realty

Listing Agent's Description

Experience Huntington Beach at its finest near Huntington Harbor at The Huntington Townhomes! First time on the market in 26 years. This end-unit is located on a quiet cul-de-sac at the backside of the community that offers the ultimate in privacy. Condo boasts three bedrooms and 1.5 bathrooms with no one above or below, at 925 sq feet this is one of the largest in the community. It's private patio allows you to enjoy blue skies and ocean air that includes a shed for extra storage. This pet friendly community is set with well-maintained grounds, a sparkling saltwater pool, huge grass areas with BBQ’s & tables. The floor plan includes an inviting personality with newly updated porcelain tile flooring throughout the home. The kitchen boasts beautiful Corian countertops with custom solid wood cabinets as well as a newer oven, gas stove and side by side washer and dryer. New vanity shower tub with tumbled stone black splash and porcelain tile floor in the master bathroom as well as a brand-new furnace. Walking distance to Trader Joes located in the Huntington Harbor Mall, a neighborhood friendly shopping center located in the heart of Huntington Beach, CA. Home to many fine retailers, restaurants and services. Take a stroll through the courtyard and discover one of Southern California's favorite neighborhoods. Close to downtown Huntington beach, the sand, and the pier as well. This is the perfect place to call home!

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
Harbour View Elementary School Primary Regular 794 28 9
Marine View Middle School Middle Regular 813 33 7
Marina High School High Regular 2,438 93 9

Harbour View Elementary School

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 28
9
GreatSchools Rating

Marine View Middle School

  • Education Level: Middle
  • # of students: 813
  • # of teachers: 33
7
GreatSchools Rating

Marina High School

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

$472,500$577,500$525,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,937
Property Tax -$520
Property Insurance -$50
HOA -$287
Property Management Fees -$108
CASH FLOW
-$692

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.

$525,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $2,218

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,7953$2,8004$2,8505$2,950
$2,950
RENT COMPS ANALYSIS
  • 16572 Nube Lane Huntington Beach, 1
    • 3 beds 2 baths ∙ 925 Sqft ∙ Built 1973 3 beds 2 baths ∙ 925 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $2.39
    •  
  • 5141 Cheryl Drive Huntington Beach, 2
    • 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
    •  
  • 16262 Hawaii Lane Huntington Beach, 3
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1963
    property image
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.44
    •  
  • 16782 Redwing Lane Huntington Beach, 4
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1976
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.33
    •  
  • 4791 Lago Drive Huntington Beach, 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kristi Murphy
Kahler Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20162898
Last Updated: 08/24/2020
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