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17711 Prescott Lane Huntington Beach, CA 92647

3 Beds 2 Baths 1,542 sqft Built 1966

$1,095,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $710.12
  • 2 Days on Market
  • MLS # : OC21152277
  • Updated Date : 07/13/2021 at 09:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,542 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

COMING SOON! Beautifully remodeled! This cheery, sun-filled SINGLE LEVEL home is move-in ready and feels as good as it looks! The gorgeous remodeled central kitchen is at the heart of this amazing home! Morning sun streams into the centerpiece Fabulous remodeled kitchen with white shaker cabinets, deep FARMHOUSE SINK, stainless appliances and gorgeous quartz counters with breakfast bar opens to living/dining rooms and views to front and back yards. Greet the morning on your covered front porch with charming fence. Fabulous features throughout include: Luxury wood-look vinyl plank flooring and high baseboards that flow through the main living areas, recessed LED lighting on dimmers, crown molding, dual pane windows, sliding doors and plantation shutters throughout. Master suite with large walk-in closet and dual pane slider view to the expansive backyard. Great Room with Vaulted Ceiling, fan, fireplace, and sliding door with retractable power awning and view to backyard. Formal Dining room off the kitchen also enjoys SUNNY, sliding door access to the private backyard retreat with lawn, flagstone patio with built-in BBQ and planter beds. Direct access from the kitchen to the two-car garage with laundry hook-ups and a newer window allowing natural east facing light. Hope View Elementary School located a short walk from this perfect home. Excellent OVSD Schools, High Schools and Golden West College, Central Park, Huntington Central Park and Library, Beach, Bolsa Chica prized wetlands and so much more. You will LOVE this home.

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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

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
Mesa View Middle School Middle Magnet 806 34 9
Ocean View High School High Magnet 1,549 58 5

Hope View Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 24
9
GreatSchools Rating

Mesa View Middle School

  • Education Level: Middle
  • # of students: 806
  • # of teachers: 34
9
GreatSchools Rating

Ocean View High School

  • Education Level: High
  • # of students: 1,549
  • # of teachers: 58
5
GreatSchools Rating
 

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,803
Property Tax -$1,084
Property Insurance -$64
Property Management Fees -$172
CASH FLOW
-$1,624

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.

$1,095,000

PROJECTED PRICE

$3,500

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-$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$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,803

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $3,527

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,5003$3,7754$3,9955$4,000
$4,000
RENT COMPS ANALYSIS
  • 17711 Prescott Lane Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.27
    •  
  • 17202 Treehaven Lane Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 1,449 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,449 Sqft ∙ Built 1965
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.07
    •  
  • 18082 Fieldbury Lane Huntington Beach, CA 3
    • 4 beds 1 baths ∙ 1,647 Sqft ∙ Built 1975 4 beds 1 baths ∙ 1,647 Sqft ∙ Built 1975
    property image
    LEASED 05/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,775
    • $2.29
    •  
  • 6252 Balmoral Drive Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 1,624 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,624 Sqft ∙ Built 1967
    property image
    LEASED 05/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.46
    •  
  • 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
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.33
    •  
PROPERTY LISTING DETAILS
Laura Hennes
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21152277
Last Updated: 07/13/2021
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