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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $573.77
- 6 Days on Market
- MLS # : OC21139563
- Updated Date : 07/08/2021 at 19:37
CONSTRUCTION
- Beds : 5
- Floor Size : 1,830 sqft
- Baths : 1 full
Listing Agent
First Team Real Estate
Listing Agent's Description
If you’re looking for an interior tract home that backs to a park,in a highly desirable neighborhood,then this is the perfect home for you!Located close to the world famous,white sand beaches of “Surf City”,this nicely remodeled & expanded,SINGLE STORY home offers 4 beds PLUS an office or 5th bed,2 baths & is situated on a quiet street surrounded by homes w/pride of ownership.Entering the home through the new front door,you are greeted by a large,versatile & open floor plan,including a living room w/skylights & a bay window & an office w/French doors, which could be a 5th bedroom,play or workout room.Between the great natural light, combined w/ neutral-colored laminate floors,&recently touched up interior paint,this home is warm & inviting.The nicely appointed kitchen has plenty of white cabinets,a breakfast bar/peninsula,GE appliances & a glass mosaic backsplash.Off the kitchen/dining area,new French doors lead to your large & private backyard which backs to & has direct access to Irby park.Enjoy warm summer days & year-round gatherings on your spacious back patio w/room for lounging,al fresco dining,an above ground hot tub & plenty of grass area for kids to play or a pool.Back inside,there are 4 generously sized bedrooms (not including the office).2 of the bedrooms are on one side of the house & have vaulted ceilings & the other 2 (including the master) are on the other side of the house,making this a great floor plan if you have older children/family living w/you,or you just want separation between sleeping areas.The master suite is off the back of the house & features an en-suite bathroom w/a step-in tile shower.The other bedrooms share a nicely upgraded full hallway bathroom w/a tile shower/tub which connects to a separate laundry room w/counter & cabinet space & direct access to the backyard.Other highlights include recessed lighting,scraped ceilings,dual pane windows & new carpet in the bedrooms,ceiling fans in many rooms & an attached 2-car garage w/direct access & pull down stairs to additional storage,16x8 shed,new fences.Close to award winning schools & Golden West College,Irby Park & Murdy Community Center,as well as the fine dining,entertainment & shops at Main St,Pacific City & Bella Terra.Also nearby is HB Central Park,library & senior center,HB Sports Complex,the equestrian center,Meadowlark golf course,the Wetlands & Huntington Harbour.Easy access to freeways & PCH.Enjoy California coastal living at its finest just in time for the summer!
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MARKET HIGHLIGHTS
- 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.
- 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]
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 | $3,520 |
| EXPENSES | Loan Payment | -$3,647 |
| Property Tax | -$1,040 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$172 | |
|
CASH FLOW
-$1,411
|
||
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.
$1,050,000
PROJECTED PRICE
$3,520
PROJECTED RENT
0.34%
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
$284,000
LOAN DETAILS
$3,647
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $262,500 |
| Loan Amount | $787,500 |
0.25
YEARS SAVED
$366
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,520
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$3,747
COMP ESTIMATED VALUE -
$2.05
COMP AVG. RENT PER SQFT
Comps Range
-
16692 Dale Vista Lane Huntington Beach, CA 1
- 5 beds 1 baths ∙ 1,830 Sqft ∙ Built 1965 5 beds 1 baths ∙ 1,830 Sqft ∙ Built 1965
![property image]()
- Rent
- Rent Per SQFT
- $3,520
- $1.92
-
16381 Serenade Lane Huntington Beach, CA 2
- 4 beds 3 baths ∙ 1,907 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,907 Sqft ∙ Built 1968
![property image]()
LEASED 12/04/20- Rent
- Rent Per SQFT
- $3,795
- $1.99
-
16691 Marie Lane Huntington Beach, CA 3
- 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1963
![property image]()
LEASED 11/02/20- Rent
- Rent Per SQFT
- $3,900
- $1.99
-
6412 Weber Circle Huntington Beach, CA 4
- 5 beds 2 baths ∙ 1,869 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,869 Sqft ∙ Built 1964
![property image]()
LEASED 06/28/21- Rent
- Rent Per SQFT
- $3,945
- $2.11
-
16262 Bradbury Lane Huntington Beach, CA 5
- 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1964
![property image]()
LEASED 11/21/20- Rent
- Rent Per SQFT
- $4,000
- $2.10
PROPERTY LISTING DETAILS
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21139563
Last Updated: 07/08/2021
