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16731 Westfield Lane Huntington Beach, CA 92649

4 Beds 4 Baths 2,903 sqft Built 2000

$1,425,000

List Price

$4,860

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $490.87
  • 123 Days on Market
  • MLS # : PW20187859
  • Updated Date : 09/16/2020 at 21:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,903 sqft
  • Baths : 4 full
Listing Agent

Alliance West Realty

Listing Agent's Description

Located in the Summer Lane Community, this exquisite family home offers an impressive floorplan and its distinctive architectural style. Both the interior and exterior of the home well encompasses the "traditional and homey" atmosphere, allowing a creation of a peaceful and relaxing environment. The house is envelope with natural light, that harmonizes well with the home ambiance creating a serene surrounding. The Grand staircases lies in front of the entry will keep you mesmerizing. The home accompanies with dark and charming original hard wood floor that is well complemented with the gourmet chef's kitchen. Which has beautiful dark granite countertop and backsplash that is cohesive with the white shaker cabinets and the upgraded stove. The backyard is the ideal spot for family gatherings, showcasing the dapper cement tiles, a paved seating area, and an open space area for BBQ. This home offers 4 bedrooms (1 room downstairs is used as a loft) and 4 bathrooms, that includes a Master en-suite. The expansive Master bath comes with an elegant walk in shower with two shower heads and a separate soaker bathtub. Not to mention this home is only minutes away from beautiful Beaches, Pacific City, shopping centers, great school districts, amazing restaurants, park and golf course.

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
Village View Elementary School Primary Regular 555 23 8
Marine View Middle School Middle Regular 813 33 7
Marina High School High Regular 2,438 93 9

Village View Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 23
8
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
 

$1,282,500$1,567,500$1,425,000

PURCHASE PRICE

$4,374$5,346$4,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,860
EXPENSES Loan Payment -$4,950
Property Tax -$1,411
Property Insurance -$97
HOA -$115
Property Management Fees -$238
CASH FLOW
-$1,951

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.

$1,425,000

PROJECTED PRICE

$4,860

PROJECTED RENT

0.34%

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$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$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$383,375

INVESTMENT

$383,375

Down Payment
$356,250
Rehab Estimate
$5,750
Closing Costs
$21,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,950

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $356,250
Loan Amount $1,068,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,860

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $4,892

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,8603$4,900
$4,900
RENT COMPS ANALYSIS
  • 16731 Westfield Lane Huntington Beach, CA 2
    • 4 beds 4 baths ∙ 2,903 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,903 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $4,860
    • $1.67
    •  
  • 6072 Manorfield Drive Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 1981
    LEASED 04/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.56
    •  
  • 16732 Westfield Lane Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 2000
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $1.81
    •  
PROPERTY LISTING DETAILS
Tran Vo
Alliance West Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20187859
Last Updated: 09/16/2020
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