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16701 Mytinger Lane Huntington Beach, CA 92647

4 Beds 2 Baths 1,389 sqft Built 1965

$760,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $547.16
  • 10 Days on Market
  • MLS # : PW20177599
  • Updated Date : 11/13/2020 at 08:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,389 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

*Single level*Open floorplan*Award Winning Schools*Four Bedroom home is a perfect space for an open living single level home. Washer and dryer gas hook ups located in a direct access 2 car garage. Located in an excellent school district. Close to shopping, entertainment and just a few miles from the ocean. The interior boasts a large living room with a beautiful oversized brick fireplace. As you make your way into the spacious backyard you will find a large grassy area for pets and kids to play. A home where memories will last forever!

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
 

$684,000$836,000$760,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,804
Property Tax -$753
Property Insurance -$61
Property Management Fees -$155
CASH FLOW
-$612

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.

$760,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$207,150

INVESTMENT

$207,150

Down Payment
$190,000
Rehab Estimate
$5,750
Closing Costs
$11,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $190,000
Loan Amount $570,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$13,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $3,139

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1603$3,1954$3,3755$3,500
$3,500
RENT COMPS ANALYSIS
  • 16701 Mytinger Lane Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,389 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,389 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.28
    •  
  • 16682 Robert Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1964
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.21
    •  
  • 17202 Treehaven Lane Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,449 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,449 Sqft ∙ Built 1965
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.20
    •  
  • 17242 Blue Fox Circle Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,375
    • $2.33
    •  
  • 5892 Donlyn Drive Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,523 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,523 Sqft ∙ Built 1965
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.30
    •  
PROPERTY LISTING DETAILS
Kevin Drumm
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20177599
Last Updated: 11/13/2020
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