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17062 Friml Lane Huntington Beach, CA 92649

4 Beds 2 Baths 1,410 sqft Built 1968

INVESTimate

$899,000

List Price

$3,310

$3,060 - $3,560

Rent Est.

$945,928  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $637.59
  • 6 Days on Market
  • MLS # : OC20167588
  • Updated Date : 08/21/2020 at 07:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Re/max Select One

Listing Agent's Description

It’s a winner! Prime location! The Bolsa Chica Wetland walking trails are just outside of the neighborhood. Meadowlark Golf Club is a block away. Bike to the beach, hike the Brightwater Trails or enjoy a coastal sunset from your west facing front yard. It's the kind of home that invites you to stay awhile. Comfortable, clean, and well maintained. No rush to change or fix anything. Move-in, get settled. The dull, expensive stuff, Roof, Air Conditioning, Sparkling Windows, Smooth Ceilings, Recessed Lights, Stainless Appliances, Updated Bathrooms, are done, making the home move-in ready while you Pinterest your heart out for your fun mini makeover. The Cal Classic homes are known for their wall-to-wall windows. Natural light streams into every room. Most of the interior walls are non-load bearing, which allows for some pretty spectacular options. Four bedrooms, two bathrooms, a substantial floorplan in the best neighborhood ever! Not just because of the close beach location, but because of the people. Friendly, quiet, safe, great area. Blue ribbon, award-winning schools, shopping, restaurants, the Bolsa Chica Ecological Reserve, and the beautiful Huntington Beach shoreline just a short distance away. Many great memories made in this lovely house; you will feel that when you walk in. A new chapter is starting, and that chapter begins with you. *** And we must pay tribute to the Hass Avocado tree in the back yard, its branches loaded with hundreds of perfect Avocados.

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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
Huntington Beach Adult School High Magnet 2,939 103 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

Huntington Beach Adult School

  • Education Level: High
  • # of students: 2,939
  • # of teachers: 103
9
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,317
Property Tax -$890
Property Insurance -$61
Property Management Fees -$162
CASH FLOW
-$1,121

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.

$899,000

PROJECTED PRICE

$3,310

PROJECTED RENT

0.37%

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,310

    LIST RENT
  • $2.35

    LIST RENT PER SQFT
  • $3,416

    COMP ESTIMATED VALUE
  • $2.42

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,3104$3,8005$3,975
$3,975
RENT COMPS ANALYSIS
  • 17062 Friml Lane Huntington Beach, 3
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,310
    • $2.35
    •  
  • 16322 Santa Anita Lane Huntington Beach, 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.38
    •  
  • 16682 Robert Lane Huntington Beach, 2
    • 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
    •  
  • 5332 Caliente Drive Huntington Beach, 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1961
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.53
    •  
  • 17482 Bellport Circle Huntington Beach, 5
    • 4 beds 2 baths ∙ 1,546 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,546 Sqft ∙ Built 1973
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,975
    • $2.57
    •  
PROPERTY LISTING DETAILS
Kimber Wuerfel
Re/max Select One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20167588
Last Updated: 08/21/2020
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