Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
209 Memphis Avenue 
Huntington Beach, CA
92648
4 Beds 4 Baths 2,597 sqft
Built 1982
INVESTimate
$1,199,998
List Price
$323,749
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 1982
- Price/Sqft : $462.07
- 68 Days on Market
- MLS # : OC20118163
- Updated Date : 08/24/2020 at 19:52
CONSTRUCTION
- Beds : 4
- Floor Size : 2,597 sqft
- Baths : 3 full , 1 half
Listing Agent
Compass
Listing Agent's Description
You'll want to check out this beach house with its spacious and very private backyard complete with outdoor kitchen--perfect for entertaining family and friends at home or for just relaxing with a drink when you want to escape all your Zoom meetings! This house is only a block from Lake Park and has been renovated both inside and out, including Milgard windows throughout. The modern kitchen offers stainless appliances, newer cabinetry with plenty of storage and a great work space for all your cooking needs. Plus, the kitchen is adjacent to the cozy family room with its wood burning fireplace, which, in turn, opens out to that spectacular backyard. Upstairs you'll find four bedrooms, including two light and airy master suites each with its own en suite bathroom. In fact, once you walk into that front master suite with its soaring vaulted ceilings, cedar-lined walk-in closet and romantic fireplace, you may never want to leave. Plus, the two smaller bedrooms are perfect for a kid's bedroom or a home office. You'll also find a spacious garage, the only part of the house that shares a common wall, and inside that garage you'll find a dedicated 240 volt line for your electric car. And on top of all this, you have solar panels that reduce your total electric bill to $0. You can't beat that! Come and see this rare find for yourself before someone else snaps it up!
SEE MORE
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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
- As part of Southern California area, Orange County market inherits all the benefits from the area.
- 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)
PRICE & RENT TRENDS
Neighborhood: Yorktown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Yorktown
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,200 |
| EXPENSES | Loan Payment | -$4,427 |
| Property Tax | -$1,186 | |
| Property Insurance | -$90 | |
| Property Management Fees | -$206 | |
|
CASH FLOW
-$1,709
|
||
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.
$1,199,998
PROJECTED PRICE
$4,200
PROJECTED RENT
0.35%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 5.89% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$323,749
LOAN DETAILS
$4,427
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $300,000 |
| Loan Amount | $899,999 |
0.25
YEARS SAVED
$559
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,200
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$4,188
COMP ESTIMATED VALUE -
$1.61
COMP AVG. RENT PER SQFT
Comps Range
-
209 Memphis Avenue Huntington Beach, 3
- 4 beds 4 baths ∙ 2,597 Sqft ∙ Built 1982 4 beds 4 baths ∙ 2,597 Sqft ∙ Built 1982
- Rent
- Rent Per SQFT
- $4,200
- $1.62
-
222 Portland Avenue Huntington Beach, 1
- 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 1984
LEASED 06/23/20- Rent
- Rent Per SQFT
- $3,600
- $1.38
-
19532 Starfish Lane Huntington Beach, 2
- 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,455 Sqft ∙ Built 1973
LEASED 10/23/19- Rent
- Rent Per SQFT
- $3,700
- $1.51
-
630 Geneva Avenue Huntington Beach, 4
- 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 1986
LEASED 05/21/20- Rent
- Rent Per SQFT
- $4,500
- $1.81
-
608 Indianapolis Avenue Huntington Beach, 5
- 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2002
LEASED 02/28/20- Rent
- Rent Per SQFT
- $4,800
- $1.75
PROPERTY LISTING DETAILS
Compass
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20118163
Last Updated: 08/24/2020
