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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $738.86
- 3 Days on Market
- MLS # : OC21034780
- Updated Date : 02/20/2021 at 12:12
CONSTRUCTION
- Beds : 3
- Floor Size : 1,122 sqft
- Baths : 2 full
Listing Agent
Realty One Group West
Listing Agent's Description
Adorable single family home with a large yard is now ready for the new tenants. This home features a large living room with a fireplace with access to the dining area that has several built ins for extra storage. newer kitchen features granite counters, s.s. appliances, nice window for brightness and plenty of cabinets. It also has an island that can be used as a breakfast nook. Master has a remodeled bathroom as well as the secondary bathroom is fully remodeled. Two other bedrooms have mirrored closet doors and the entire home has refinished hardwood floors. This home has an extra 330 sqft of a large sunroom area that has a new vinyl flooring with access to the backyard. Two car direct access garage completes this home. washer,dryer hookups are in the garage. Large yard is perfect for young children to play
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MARKET HIGHLIGHTS
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 | $3,020 |
| EXPENSES | Loan Payment | -$2,879 |
| Property Tax | -$837 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$148 | |
|
CASH FLOW
-$899
|
||
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.
$829,000
PROJECTED PRICE
$3,020
PROJECTED RENT
0.36%
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
$225,435
LOAN DETAILS
$2,879
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $207,250 |
| Loan Amount | $621,750 |
0.67
YEARS SAVED
$2,426
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,020
LIST RENT -
$2.69
LIST RENT PER SQFT
-
$2,690
COMP ESTIMATED VALUE -
$2.4
COMP AVG. RENT PER SQFT
Comps Range
-
16591 Waite Lane Huntington Beach, CA 4
- 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 1959
![property image]()
- Rent
- Rent Per SQFT
- $3,020
- $2.69
-
7242 Elk Circle Huntington Beach, CA 1
- 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1972
![property image]()
LEASED 11/12/20- Rent
- Rent Per SQFT
- $2,950
- $2.31
-
8221 Friesland Drive Huntington Beach, CA 2
- 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963
![property image]()
LEASED 05/09/20- Rent
- Rent Per SQFT
- $2,995
- $2.43
-
8420 Drey Road Westminster, CA 3
- 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1960
![property image]()
LEASED 05/15/20- Rent
- Rent Per SQFT
- $3,000
- $2.37
-
17431 Marken Lane Huntington Beach, CA 5
- 4 beds 2 baths ∙ 1,289 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,289 Sqft ∙ Built 1963
![property image]()
LEASED 01/18/21- Rent
- Rent Per SQFT
- $3,200
- $2.48
PROPERTY LISTING DETAILS
Realty One Group West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21034780
Last Updated: 02/20/2021
