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20581 Suburbia Lane Huntington Beach, CA 92646

5 Beds 2 Baths 2,038 sqft Built 1967

$969,900

List Price

$3,780

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $475.91
  • 4 Days on Market
  • MLS # : OC20250680
  • Updated Date : 12/04/2020 at 19:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,038 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Looking for a 5 bedroom, single-story pool home in Huntington Beach under $1M? Your search is over, because this is the only one! Approximately 2 miles to the beach and within a mile of highly rated schools at every level, this family home awaits your finishing touches. Many options present itself with this versatile floorplan. Some upgrades have been completed (dual-paned windows/sliders, central HVAC, recessed lighting, paid-off solar for the pool, fresh paint in and out, new flooring in the bedroom wing and new baseboards throughout), and the home is definitely clean and livable…but the opportunity exists to add significant value with kitchen/bathroom upgrades and opening up the floorplan. The corner lot location provides a spacious, fenced-in front yard as well as an entertainer’s back yard with wraparound patio, private pool, and plenty of room to design a perfect outdoor living space. This home offers multiple living and dining options with a family room, living room, and dining area all surrounding the kitchen. Inside laundry room and half bath are situated off the family room, adjacent to the garage, while the 5 bedrooms (including master suite) and additional full bath have their own wing. Easy access to the beach, Santa Ana River Trail, schools, shopping, and LeBard Park.

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: Southeast Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Southeast Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19243821

* 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
Ralph E. Hawes Elementary School Primary Regular 666 24 10
Isaac L. Sowers Middle School Middle Regular 1,205 38 9
Edison High School High Regular 2,560 107 9

Ralph E. Hawes Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 24
10
GreatSchools Rating

Isaac L. Sowers Middle School

  • Education Level: Middle
  • # of students: 1,205
  • # of teachers: 38
9
GreatSchools Rating

Edison High School

  • Education Level: High
  • # of students: 2,560
  • # of teachers: 107
9
GreatSchools Rating
 

$872,910$1,066,890$969,900

PURCHASE PRICE

$3,402$4,158$3,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,780
EXPENSES Loan Payment -$3,579
Property Tax -$977
Property Insurance -$76
Property Management Fees -$185
CASH FLOW
-$1,037

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$969,900

PROJECTED PRICE

$3,780

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$262,774

INVESTMENT

$262,774

Down Payment
$242,475
Rehab Estimate
$5,750
Closing Costs
$14,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $242,475
Loan Amount $727,425
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,780

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $3,811

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7803$3,8004$3,8005$4,000
$4,000
RENT COMPS ANALYSIS
  • 20581 Suburbia Lane Huntington Beach, CA 2
    • 5 beds 2 baths ∙ 2,038 Sqft ∙ Built 1967 5 beds 2 baths ∙ 2,038 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,780
    • $1.85
    •  
  • 20951 Surge Lane Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1966
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.86
    •  
  • 9851 Hot Springs Drive Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 1972
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.71
    •  
  • 20792 Sparkman Lane Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 1971
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.89
    •  
  • 9752 La Cresta Circle Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1966
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.02
    •  
PROPERTY LISTING DETAILS
Bill Caiazzo
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20250680
Last Updated: 12/04/2020
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