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21152 Surfwood Lane Huntington Beach, CA 92646

3 Beds 2 Baths 1,352 sqft Built 1964

$699,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $517.01
  • 32 Days on Market
  • MLS # : OC20256622
  • Updated Date : 02/10/2021 at 10:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,352 sqft
  • Baths : 1 full , 1 half
Listing Agent

Elite Homes Realty

Listing Agent's Description

Located in South Huntington Beach Nestled into the Private Enclave of Surfside Homes By The Sea. This Fantastic Home has Many Features and Upgrades Such as a Remodeled Kitchen with Added Counter Space, Cabinets and Wine Rack Below Pass-Through to Family Room, Bosch Stainless Steel Appliances, Tiled & Hardwood Floors Throughout, Double-Pane Windows, Tankless Water Heater, Baseboard & Crown Molding, Plastered Ceilings, Inside Laundry, Rare Front Porch (Grandfathered in before Restrictions), Plantation Shutters, Master Bathroom Recently Remodeled with Marble Tiled Floors, Subway Tile and Frameless Glass Doors. The Back Patio gets Plenty of Sunshine and is Perfect for Entertaining Family & Friends. The Detached 2 car Garage with Direct Access has a Roll Up Garage Door and is Conveniently Located Behind the Home. The Resort-Like Amenities in Surfside Offer 2 Community Pools, 2 Clubhouses, Basketball Court, Playground, Tot Lot, BBQ & Picnic Area. Surfside is a Sought after Location that is Walking Distance to the Beach, Pacific City, Downtown Main Street, Restaurants, Shopping, Entertainment and Bike Trails! The Home is also close to Highly Rated Schools (Moffett, Sowers, Edison) and has low HOA's. Come join the Lifestyle Surfside Offers!

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
S. A. Moffett Elementary School Primary Regular 573 21 10
Isaac L. Sowers Middle School Middle Regular 1,205 38 9
Edison High School High Regular 2,560 107 9

S. A. Moffett Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 21
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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,428
Property Tax -$691
Property Insurance -$60
HOA -$264
Property Management Fees -$145
CASH FLOW
-$637

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.

$699,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $3,197

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,2003$3,5004$3,5005$3,950
$3,950
RENT COMPS ANALYSIS
  • 21152 Surfwood Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.18
    •  
  • 8032 Mermaid Circle Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 1963
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.44
    •  
  • 802 California Street Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1973
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.33
    •  
  • 21126 Poolside Lane Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1983
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.36
    •  
  • 8542 Oxley Circle Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 1,698 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,698 Sqft ∙ Built 1975
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.33
    •  
PROPERTY LISTING DETAILS
Tony Albertini
Elite Homes Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20256622
Last Updated: 02/10/2021
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