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PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $541.88
- 5 Days on Market
- MLS # : OC20218398
- Updated Date : 12/23/2020 at 14:47
CONSTRUCTION
- Beds : 5
- Floor Size : 1,982 sqft
- Baths : 1 full
Listing Agent
Seven Gables Real Estate
Listing Agent's Description
Sparkling and bright, this turn-key, home with designer upgrades, remodeled kitchen and baths, fresh interior paint, and so much more, a private large back yard with covered patio for outdoor dining and 2-car garage is a perfect gem inside and out. This inviting home offers an open layout main living area with French doors, stacked stone fireplace surround, recessed lighting, & gorgeous wood tile flooring. The work has been done, kitchen featuring shaker cabinets and quartz countertops, stainless appliances, and plenty of breakfast bar seating. The dining area is a great place to share family meals. There are two bedrooms downstairs and a full bath. Upstairs is the master and other two bedrooms. The spacious master bedroom has a large dressing area w mirrored closet doors, and the bath has been updated with granite vanity countertop & beautiful custom tiled glass enclosed shower. You will love to entertain in your expansive back yard with grass, tree, covered patio and side yard with possibility for boat, RV or dog run. Other upgrades include dual pane windows, drywalled garage and 200 amp electrical panel. This home is located near great schools, parks, shops, and the beach. Don't miss this one. This is a great turnkey upgraded home in a prime location!
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MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,880 |
| EXPENSES | Loan Payment | -$3,963 |
| Property Tax | -$1,089 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$190 | |
|
CASH FLOW
-$1,437
|
||
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.
$1,074,000
PROJECTED PRICE
$3,880
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$290,360
LOAN DETAILS
$3,963
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $268,500 |
| Loan Amount | $805,500 |
0.33
YEARS SAVED
$1,060
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,880
LIST RENT -
$1.96
LIST RENT PER SQFT
-
$3,880
COMP ESTIMATED VALUE -
$1.96
COMP AVG. RENT PER SQFT
Comps Range
-
19891 Potomac Lane Huntington Beach, CA 3
- 5 beds 1 baths ∙ 1,982 Sqft ∙ Built 1964 5 beds 1 baths ∙ 1,982 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $3,880
- $1.96
-
19941 Lexington Lane Huntington Beach, CA 1
- 5 beds 1 baths ∙ 2,020 Sqft ∙ Built 1965 5 beds 1 baths ∙ 2,020 Sqft ∙ Built 1965
LEASED 04/27/20- Rent
- Rent Per SQFT
- $3,500
- $1.73
-
20392 Mooncrest Circle Huntington Beach, CA 2
- 4 beds 2 baths ∙ 1,941 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,941 Sqft ∙ Built 1969
LEASED 06/25/20- Rent
- Rent Per SQFT
- $3,800
- $1.96
-
10192 Cutty Sark Drive Huntington Beach, CA 4
- 5 beds 2 baths ∙ 1,982 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,982 Sqft ∙ Built 1964
LEASED 03/24/20- Rent
- Rent Per SQFT
- $3,900
- $1.97
-
20392 Venus Circle Huntington Beach, CA 5
- 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 1971
LEASED 01/10/20- Rent
- Rent Per SQFT
- $4,500
- $2.17
PROPERTY LISTING DETAILS
Seven Gables Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20218398
Last Updated: 12/23/2020
