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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southeast Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,780 |
| 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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$262,774
LOAN DETAILS
$3,579
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $242,475 |
| Loan Amount | $727,425 |
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
-
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
Homesmart, Evergreen Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20250680
Last Updated: 12/04/2020
