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17711 Falkirk Lane Huntington Beach, CA 92649

4 Beds 2 Baths 1,717 sqft Built 1973

$1,149,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $669.19
  • 6 Days on Market
  • MLS # : OC21145616
  • Updated Date : 07/08/2021 at 15:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,717 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

https://vimeo.com/user9072077/review/572432165/d3f8936c6e copy and paste video This Popular Sprawling Single Story Cal-Classics-by-the-Sea Model 300 is Rarely on Market! 4 Bedrooms, 2 Baths, 1717 Square Feet, Soaring Ceilings, and Open Concept Floorplan is Highly Sought-After and this Upgraded Beauty is the Most Stunning One Ever on the Market!!! Walking Distance to Neighborhood Park and the Bolsa Chica Ecological Reserve Wetlands where you Feel the Ocean Breezes & Enjoy Beautiful Sunsets all Year Round! It is Beautifully Appointed Throughout, Including Rich Engineered Wood Flooring, Dual Pane Windows & Sliders, Plantation Shutters, Extensive Custom Crown and Base Molding, Custom Window and Door Casements, Recessed Lighting, Raised Panel Interior Doors, Designer Paint, and Remodeled Kitchen and Bathrooms. The Curb Appeal is Exquisite... Lovely Flowers, Tropical Landscaping, Top-of-the-Line Artificial Grass, Wrought Iron Gate Opens to Huge Private Front Courtyard/Patio Surrounded by Rose Gardens is the Perfect Place for Sipping Morning Coffee. Step into this Amazing Home through Solid Wood Double Entry Doors to the Open Flowing Great Room that Includes Huge Living Room with Marble Fireplace with White Handcrafted Wood Surround and Mantel, Banquet-Size Formal Dining Area, Gorgeous Family Room and the Remodeled Kitchen with Granite Countertops, Stainless Appliances, Deep Chef's Stainless Sinks, and Custom Cabinetry with Rain Glass Display Panels, Decor Niches, Lazy Susan, Pantry & Drawers. Spacious Master Suite with Mirrored Closet and Upgraded Bathroom with Granite Countertop and Designer Tile Flooring and Shower Surround, Plus Clear Glass Enclosure. Remodeled Guest Bath has Newer Granite Vanity and Tub/Shower Combo. Lovely Backyard Boasts Huge Covered Patio and Meticulously Manicured Drought-Tolerant Landscaping with Charming Stepping Stones and Block Wall Fencing. It's the Perfect Setting for Relaxing, BBQ Dining, and Entertaining! Enjoy the Lifestyle this Exclusive Neighborhood has to Offer - Close to Beach, Shopping, Dining, Boating, Golf, and Award-Winning Schools.

SEE MORE

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

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
Hope View Elementary School Primary Regular 677 24 9
Marine View Middle School Middle Regular 813 33 7
Huntington Beach Adult School High Magnet 2,939 103 9

Hope View Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 24
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
 

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$3,991
Property Tax -$1,138
Property Insurance -$69
Property Management Fees -$179
CASH FLOW
-$1,717

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.

$1,149,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.32%

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

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,991

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $3,717

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$3,395
1$3,3952$3,3953$3,6604$3,6955$4,000
$4,000
RENT COMPS ANALYSIS
  • 17711 Falkirk Lane Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $2.13
    •  
  • 17521 Berlark Circle Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.98
    •  
  • 5692 Grimsby Drive Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,546 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,546 Sqft ∙ Built 1974
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $2.20
    •  
  • 17832 Cardiff Circle Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973
    LEASED 05/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $2.15
    •  
  • 6102 Wintergreen Drive Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1965
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.33
    •  
PROPERTY LISTING DETAILS
Eva Riddle
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21145616
Last Updated: 07/08/2021
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