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19282 Worchester Lane Huntington Beach, CA 92646

4 Beds 3 Baths 2,494 sqft Built 1966

$989,000

List Price

$3,930

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $396.55
  • 5 Days on Market
  • MLS # : OC21028038
  • Updated Date : 02/19/2021 at 10:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,494 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

First time on the market in over 50 years! Long-time family home, well maintained throughout the years, is ready for the next lucky owners. Situated on a prime interior location with no street noise and an exceptional floor plan, 19282 Worchester is an amazing opportunity. Four bedrooms upstairs, plus an office downstairs (could be 5th bedroom to have a downstairs bedroom), and approx 2494 sq ft of living space spread over 2 levels. Inviting, private courtyard in the front is a great private seating or entertaining area. Large living room with access to separate dining room. Kitchen is open to the family room with sliding patio doors to the backyard and a quaint fireplace in family room. Kitchen has a walk-in pantry for extra storage and bar seating. Spacious master bedroom with en-suite master bathroom and dual vanities. All 3 guest bedrooms are spacious with cedar-lined closets. All double pane windows throughout. New backyard fence just installed. Three car garage with plenty of room for storage and a large driveway for extra parking. Additional storage/work sheds on the side of the yard stay with the home. Private backyard area with mature vegetation and trees. Fantastic opportunity to make this home your own in an amazing neighborhood. Enjoy the 3D Matterport tour here: https://tours.viralempire.com/e/XWWckDz

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
 

$890,100$1,087,900$989,000

PURCHASE PRICE

$3,537$4,323$3,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,930
EXPENSES Loan Payment -$3,435
Property Tax -$977
Property Insurance -$87
Property Management Fees -$193
CASH FLOW
-$762

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.

$989,000

PROJECTED PRICE

$3,930

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$267,835

INVESTMENT

$267,835

Down Payment
$247,250
Rehab Estimate
$5,750
Closing Costs
$14,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,435

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,250
Loan Amount $741,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$13,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,930

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $3,959

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,7003$3,9304$4,2005$4,300
$4,300
RENT COMPS ANALYSIS
  • 19282 Worchester Lane Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,930
    • $1.58
    •  
  • 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
    •  
  • 8552 Boise Drive Huntington Beach, CA 2
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1976
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.38
    •  
  • 19552 Helena Circle Huntington Beach, CA 4
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1973
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.56
    •  
  • 19691 Topeka Lane Huntington Beach, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Sean Grange
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21028038
Last Updated: 02/19/2021
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