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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $414.50
- 4 Days on Market
- MLS # : OC20264722
- Updated Date : 01/01/2021 at 06:05
CONSTRUCTION
- Beds : 3
- Floor Size : 2,772 sqft
- Baths : 3 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Welcome home to this meticulously maintained home located in the highly desirable and gated “Beachside” community, which is located just a few blocks from the beach! The open floor plan allows for ample light to fill the home and is perfect for entertaining either in your spacious family room or in the backyard in the ocean breeze with your built-in BBQ. The master bedroom boasts high ceilings, two custom walk-in closets designed by California Closets, a large soaking tub, separate shower and 2 large vanities! The upstairs loft area offers versatility and is perfect for another bedroom, office, workout room or however you envision it. The home is within walking distance to the beach, Pacific City, shopping and much much more! Don’t miss out on this opportunity!
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
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 | $4,710 |
| EXPENSES | Loan Payment | -$4,239 |
| Property Tax | -$1,135 | |
| Property Insurance | -$94 | |
| HOA | -$99 | |
| Property Management Fees | -$231 | |
|
CASH FLOW
-$1,088
|
||
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.
$1,149,000
PROJECTED PRICE
$4,710
PROJECTED RENT
0.41%
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
$310,235
LOAN DETAILS
$4,239
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $287,250 |
| Loan Amount | $861,750 |
1.42
YEARS SAVED
$9,680
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,710
LIST RENT -
$1.7
LIST RENT PER SQFT
-
$4,906
COMP ESTIMATED VALUE -
$1.77
COMP AVG. RENT PER SQFT
Comps Range
-
20953 Cabrillo Lane Huntington Beach, CA 3
- 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $4,710
- $1.70
-
630 Geneva Avenue Huntington Beach, CA 1
- 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
-
20854 Cabrillo Lane Huntington Beach, CA 2
- 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 2001
LEASED 05/22/20- Rent
- Rent Per SQFT
- $4,700
- $1.70
-
608 Indianapolis Avenue Huntington Beach, CA 4
- 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
-
512 Indianapolis Avenue Huntington Beach, CA 5
- 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2002
LEASED 09/03/20- Rent
- Rent Per SQFT
- $4,995
- $1.82
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20264722
Last Updated: 01/01/2021
