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4831 Lago Drive #200 Huntington Beach, CA 92649

3 Beds 2 Baths 1,272 sqft Built 1980

$370,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $290.88
  • 6 Days on Market
  • MLS # : NP21016688
  • Updated Date : 02/09/2021 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Unbeatable location within the gated community of Harbour Vista in Northwest Huntington Beach! Surrounded by mature greenery, creeks, and a man-made lake, this charming three bedroom, two bathroom condominium spans over 1,272 square feet and features a fully fitted kitchen with recessed lighting, multiple balconies, a spacious laundry room, vaulted ceilings, and maple hardwood flooring. Complete with a fireplace, the light-filled living area is open to the stone top breakfast bar of the remodeled kitchen. The large master suite is flooded with light from the private balcony, and offers a master bathroom that is equipped with dual vanity sinks, and a walk-in closet. HOA amenities include a pool, spa, clubhouse, and offers a one car detached garage with an assigned parking space along with ample guest parking spaces. Just minutes from the beach, Pacific City, downtown Huntington Beach, and Bella Terra. Experience the epitome of beach-side living in this exceptional community!

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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: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k844k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21800200022002400260028003000320034003600Rent in $17803620

* 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
Harbour View Elementary School Primary Regular 794 28 9
Marine View Middle School Middle Regular 813 33 7
Marina High School High Regular 2,438 93 9

Harbour View Elementary School

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 28
9
GreatSchools Rating

Marine View Middle School

  • Education Level: Middle
  • # of students: 813
  • # of teachers: 33
7
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 93
9
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,285
Property Tax -$366
Property Insurance -$58
HOA -$429
Property Management Fees -$127
CASH FLOW
$334

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.

$370,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$55,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $2,884

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6953$2,6954$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 4831 Lago Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.04
    •  
  • 4921 Charlene Circle Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1975
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.25
    •  
  • 4682 Warner Avenue Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1981
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.18
    •  
  • 16782 Redwing Lane Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1976
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.33
    •  
  • 16571 Jib Circle #1 Huntington Beach, CA 5
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1977
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.31
    •  
PROPERTY LISTING DETAILS
Tim Smith
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP21016688
Last Updated: 02/09/2021
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