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19152 Colchester Lane Huntington Beach, CA 92646

4 Beds 3 Baths 2,478 sqft Built 1967

$1,128,000

List Price

$4,140

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $455.21
  • 5 Days on Market
  • MLS # : OC21038387
  • Updated Date : 02/26/2021 at 08:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Select One

Listing Agent's Description

MAGNIFICENT 4 BEDROOMS, 2 -1/2 BATHS, 3 CAR GARAGE HOME LOCATED IN THE PRESTIGIOUS HUNTINGTON CREST COMMUNITY, AND ITS NESTLED NEXT TO PERRY PARK WITH NO NEIGHBORS BEHIND, JUST THE BEAUTIFUL PARK, CREATING A PRIVATE AND UNIQUE SETTING. COME HOME TO THIS BEAUTIFUL FAMILY HOME, SERENITY AND QUALITY OF DESIGN. THE UNIQUE QUALITIES OF THIS HOME INCLUDE RENOVATED KITCHEN, AND BATHROOMS, DOUBLE PANE WINDOWS, AIR-CONDITIONER, STAINLESS STEEL TOP OF THE LINE APPLIANCES, SKYLIGHTS, ENERGY EFFICIENT WATER HEATER POWERED BY SOLAR ENERGY, RENOVATED BATHROOMS, NEW WASHER AND DRYER, AND LOCATED WITHIN THE DISTRICT OF AWARD WINNING SCHOOLS. THE FIRST FLOOR FEATURES SPACIOUS COURT-YARD AT THE ENTRANCE, FORMAL DINING AND LIVING-ROOM WITH FIRE PLACE, FAMILY-ROOM WITH FIRE-PLACE, LARGE DEN/5TH BEDROOM, AND HALF BATH. THE 2ND FLOOR OFFERS SPACIOUS FOUR BEDROOMS, LARGE MASTER BATH WITH TUB AND SEPARATE SHOWER, DOUBLE SINKS, AND ANOTHER BATHROOM WITH TUB/SHOWER. COMPLIMENTING THIS UNIQUE HOME IS WELL MANICURED BACKYARD.

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
Joseph R. Perry Elementary School Primary Regular 468 19 6
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Joseph R. Perry Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 19
6
GreatSchools Rating

Ethel Dwyer Middle School

  • Education Level: Middle
  • # of students: 1,243
  • # of teachers: 43
8
GreatSchools Rating

Huntington Beach Adult School

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

$1,015,200$1,240,800$1,128,000

PURCHASE PRICE

$3,726$4,554$4,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,140
EXPENSES Loan Payment -$3,918
Property Tax -$1,115
Property Insurance -$87
Property Management Fees -$203
CASH FLOW
-$1,182

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.

$1,128,000

PROJECTED PRICE

$4,140

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
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-$20k-$10k$0.0$10k$20k

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$304,670

INVESTMENT

$304,670

Down Payment
$282,000
Rehab Estimate
$5,750
Closing Costs
$16,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,918

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $282,000
Loan Amount $846,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,140

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $4,231

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,8503$4,1404$4,3005$4,650
$4,650
RENT COMPS ANALYSIS
  • 19152 Colchester Lane Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $4,140
    • $1.67
    •  
  • 19162 Homestead Lane Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1974
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.56
    •  
  • 8542 Windlass Drive Huntington Beach, CA 2
    • 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 1975
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.75
    •  
  • 19691 Topeka Lane Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1975
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.85
    •  
  • 18232 Santa Sophia Circle Fountain Valley, CA 5
    • 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 1970
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,650
    • $1.67
    •  
PROPERTY LISTING DETAILS
Patricia Vidal
Re/max Select One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21038387
Last Updated: 02/26/2021
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