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21692 Bahama Lane Huntington Beach, CA 92646

5 Beds 2 Baths 2,064 sqft Built 1964

$1,149,000

List Price

$3,870

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $556.69
  • 5 Days on Market
  • MLS # : OC21056104
  • Updated Date : 03/18/2021 at 12:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,064 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

Location, Location, Location! Less than a mile to the ocean. This light and bright home is in the very desirable Fashion Shores neighborhood and is on the prime interior street. It features the largest floor plan with 5 bedrooms and 2 baths. The inviting formal living room has a lovely fireplace surrounded by custom built-ins, highlighted with recessed lighting and plantation shutters. The dining room's skylight lights up the room and is open to the kitchen with French doors that lead to the backyard. A sought after main floor bedroom or retreat completes the downstairs. Four large bedrooms upstairs and an updated bathroom with a spa like shower. The backyard is large and has mature palms, plumeria and hibiscus. This "diamond in the rough" is ready to be reinvented into someone's dream home. It is very close to the award winning Edison High School and Eader Elementary, shopping, restaurants and library. First time on the market and this exciting opportunity won't last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$3,483$4,257$3,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,870
EXPENSES Loan Payment -$3,991
Property Tax -$1,135
Property Insurance -$77
Property Management Fees -$190
CASH FLOW
-$1,523

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

$3,870

PROJECTED RENT

0.34%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$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$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,991

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,870

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $3,968

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,8703$3,9954$4,0005$4,000
$4,000
RENT COMPS ANALYSIS
  • 21692 Bahama Lane Huntington Beach, CA 2
    • 5 beds 2 baths ∙ 2,064 Sqft ∙ Built 1964 5 beds 2 baths ∙ 2,064 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,870
    • $1.88
    •  
  • 8851 Bolin Circle Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1974
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.69
    •  
  • 20871 Hunter Lane Huntington Beach, CA 3
    • 5 beds 3 baths ∙ 2,068 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,068 Sqft ∙ Built 1970
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.93
    •  
  • 21852 Summerwind Lane Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1975
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.06
    •  
  • 20712 Chaucer Lane Huntington Beach, CA 5
    • 5 beds 2 baths ∙ 1,990 Sqft ∙ Built 1966 5 beds 2 baths ∙ 1,990 Sqft ∙ Built 1966
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.01
    •  
PROPERTY LISTING DETAILS
Christopher Robin
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21056104
Last Updated: 03/18/2021
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