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21336 Via Straits Lane Huntington Beach, CA 92646

3 Beds 2 Baths 1,267 sqft Built 1972

$699,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $551.70
  • 12 Days on Market
  • MLS # : OC21012351
  • Updated Date : 01/28/2021 at 09:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,267 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Platinum Prop

Listing Agent's Description

THIS OPPORTUNITY WILL NOT LAST! Priced $100,000 BELOW MARKET (Zestimate is over $800,000), this SINGLE-STORY, recently upgraded attached house is just waiting for you to call "Home"! Remodeled throughout, the 3-bed/2-bath light and bright OPEN FLOORPLAN sports all new KitchenAid appliances, quartz countertops, quiet-glide drawers, water softener (paid for), recessed lighting, new floors and the list goes on and on. The enclosed atrium has endless possibilities and can even become your WFH office space or home-schooling area. Approximately a one-mile stroll from the beach, your front door is just a few steps away from a pet-friendly 1/2 mile long greenbelt, tennis courts, jogging track, playgrounds and pools. Villa Pacific offers unusually-low HOA dues, pools & spas, clubhouse, playground, tennis, basketball, shuffleboard and FREE ONSITE GATED RV/BOAT PARKING! Trader Joe's is right around the corner, along with a pet store, restaurants and more. Single Story homes in Villa Pacific are rare on the market and buyers wait years for one to become available. Welcome Home! Enjoy a morning stroll with your dog in the park right outside your front door, bike to the Pier/Pacific City or walk to the beach. Just beware when inviting guests over - your friends will be jealous and your relatives will want to move in! What's more, it's FHA and VA approved! DON'T HESITATE - come see it now or you'll miss out!

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

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
John H. Eader Elementary School Primary Regular 582 21 9
Isaac L. Sowers Middle School Middle Regular 1,205 38 9
Edison High School High Regular 2,560 107 9

John H. Eader Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 21
9
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

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,428
Property Tax -$691
Property Insurance -$58
HOA -$337
Property Management Fees -$147
CASH FLOW
-$651

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

$3,010

PROJECTED RENT

0.43%

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

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

YEARS SAVED

$3,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $2.38

    LIST RENT PER SQFT
  • $3,019

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,010
1$3,0102$3,3453$3,4954$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 21336 Via Straits Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $2.38
    •  
  • 9621 Erskine Drive Huntington Beach, CA 2
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1971
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,345
    • $2.20
    •  
  • 20891 Charwood Lane Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1971
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.55
    •  
  • 20711 Elizabeth Lane Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1966
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.45
    •  
  • 9291 Westcliff Dr Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 1971
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.33
    •  
PROPERTY LISTING DETAILS
Paul Selecky
Coldwell Banker Platinum Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21012351
Last Updated: 01/28/2021
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