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18272 Gum Tree Lane Huntington Beach, CA 92646

4 Beds 1 Baths 1,740 sqft Built 1973

$779,900

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $448.22
  • 5 Days on Market
  • MLS # : OC21026589
  • Updated Date : 02/11/2021 at 07:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,740 sqft
  • Baths : 1 full
Listing Agent

Berkshire Hathaway Hscp

Listing Agent's Description

This Charming 4 Bedroom/3 Bathroom Springhurst home, with Spectacular Mountain & City Lights views, is move-in ready! This spacious home has been recently painted and features extensive upgrades throughout. The Remodeled Kitchen is well-appointed with Granite Counters, Glass Tile Backsplash, Newer Stainless Steel Appliances, Recessed Lighting, Stone Tile Floors & a Cozy Breakfast Nook that transitions nicely onto your Back Patio. Hidden under the stairs is a Large Pantry area that has been customized to fit all your needs! The Downstairs also conveniently features a Bedroom with a Remodeled Full Bathroom. The Spacious & Bright Living Room features a Cathedral Like Ceiling and a newly Refinished Fireplace. The Huge Master Bedroom features Vaulted Ceilings, Double Pane Windows, and Ample Closet Space. The Master Bathroom has a Newer Vanity & Sink with a Remodeled Shower. The Secondary Bedrooms feature Mirrored Closet Doors, Double Pane Windows, Recessed Lighting & Fresh Paint. The 3/4 Bathroom Upstairs has also been Remodeled with a New Vanity, Sink and a New Tile Shower. Additional features include New Central A/C and a Two Car Garage. The Springhurst Community offers Great Amenities to the Homeowner including a Large Pool, Spa, RV or Boat Parking, Lush Landscaping, Greenbelts, a Clubhouse. Minutes from the Beach, Downtown Huntington Beach and Bella Terra shopping. The nearby Park offers with Views of City Lights and Extra Green Space. This is truly a must see!

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
Lake View Elementary School Primary Regular 312 14 6
Vista View Middle School Middle Regular 698 30 7
Ocean View High School High Magnet 1,549 58 5

Lake View Elementary School

  • Education Level: Primary
  • # of students: 312
  • # of teachers: 14
6
GreatSchools Rating

Vista View Middle School

  • Education Level: Middle
  • # of students: 698
  • # of teachers: 30
7
GreatSchools Rating

Ocean View High School

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

$701,910$857,890$779,900

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,709
Property Tax -$787
Property Insurance -$69
HOA -$411
Property Management Fees -$162
CASH FLOW
-$838

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.

$779,900

PROJECTED PRICE

$3,300

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,424

INVESTMENT

$212,424

Down Payment
$194,975
Rehab Estimate
$5,750
Closing Costs
$11,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,975
Loan Amount $584,925
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,524

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,5004$3,5505$3,600
$3,600
RENT COMPS ANALYSIS
  • 18272 Gum Tree Lane Huntington Beach, CA 1
    • 4 beds 1 baths ∙ 1,740 Sqft ∙ Built 1973 4 beds 1 baths ∙ 1,740 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.90
    •  
  • 18322 Lisa Lane Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 1959
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.01
    •  
  • 8041 Sterling Drive Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1956
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.22
    •  
  • 8938 Yuba River Avenue Fountain Valley, CA 4
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1970
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.97
    •  
  • 18462 Gina Lane Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,898 Sqft ∙ Built 1977
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.90
    •  
PROPERTY LISTING DETAILS
Brett Brummett
Berkshire Hathaway Hscp
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21026589
Last Updated: 02/11/2021
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