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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $448.03
- 2 Days on Market
- MLS # : OC20258415
- Updated Date : 12/19/2020 at 12:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,674 sqft
- Baths : 2 full , 1 half
Listing Agent
Seven Gables Real Estate
Listing Agent's Description
Just 3 miles from the beach awaits this beautiful attached home located in the gated community of Seacliff Palms. Upon opening the front door, you are welcomed into a light, bright and airy home featuring 3-bedrooms and 3-bathrooms. Greeted by a lovely tile entryway you then step down into the spacious living room featuring a cozy fireplace and a large slider that pulls in plenty of natural light and opens to a private concrete and brick patio. The immaculate kitchen offers ample cabinet space, new stainless-steel appliances, tile flooring and overlooks the dining area and living room creating an open concept feel. Upstairs is a full bathroom, laundry room and three well-appointed bedrooms including the master bedroom. The master bedroom is the perfect place to relax showcasing a vaulted ceiling, large walk-in closet with organizers, private balcony, double sided fireplace and a beautiful en suite with a garden tub, shower and double sink vanity. Additional features include plantation shutters, direct access 2 car garage, downstairs half bath and community pool access. With ease of access to the beach, shopping and highly rated schools-this beautiful home is bound to go quickly!
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Garfield
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Garfield
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,300 |
| EXPENSES | Loan Payment | -$2,767 |
| Property Tax | -$756 | |
| Property Insurance | -$68 | |
| HOA | -$330 | |
| Property Management Fees | -$162 | |
|
CASH FLOW
-$782
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$750,000
PROJECTED PRICE
$3,300
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.42% |
| Appreciation Year (1-5) | 5.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 4.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,500
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
1.42
YEARS SAVED
$6,248
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 -
$1.97
LIST RENT PER SQFT
-
$3,670
COMP ESTIMATED VALUE -
$2.19
COMP AVG. RENT PER SQFT
Comps Range
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18854 Milos Circle Huntington Beach, CA 3
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512 Utica Avenue Huntington Beach, CA 1
- 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1973
LEASED 10/02/20- Rent
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- $3,100
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7263 Richard Court Huntington Beach, CA 2
- 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2007
LEASED 11/20/20- Rent
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- $3,100
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-
19671 Elmcrest Lane Huntington Beach, CA 4
- 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1978
LEASED 03/27/20- Rent
- Rent Per SQFT
- $3,900
- $2.11
-
7023 Nestucca Court Huntington Beach, CA 5
- 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2002
LEASED 12/06/20- Rent
- Rent Per SQFT
- $4,200
- $2.35
PROPERTY LISTING DETAILS
Seven Gables Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20258415
Last Updated: 12/19/2020
