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509 17th Street Huntington Beach, CA 92648

3 Beds 3 Baths 1,820 sqft Built 1977

$1,200,000

List Price

$4,110

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $659.34
  • 5 Days on Market
  • MLS # : SW21007921
  • Updated Date : 01/16/2021 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,820 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

***SEE FULL 3D TOUR HERE: https://bit.ly/3bCv5q4*** Welcome home! This turnkey 2-story home is located just blocks from the ocean in the heart of Huntington Beach. This well cared for home boasts pride of ownership! Once inside, you are welcomed by beautiful wood floors and freshly painted walls. The formal living and dining room are light and bright and offer plenty of space for entertaining. The heart of the home consists of the updated kitchen with granite counter tops, plenty of cabinet space, and peninsula with bar seating. The kitchen opens to the large family room with large sliding doors to the beautiful backyard space. The main floor also features a half bath and a 2 car garage. Upstairs you will find 2 well sized guest bedrooms, a remodeled full bath with custom tile work and granite counters, and the large master bedroom. The master is light and bright with views to the front of the home and looking towards the water. The master bath features dual sinks, large remodeled shower. The backyard/patio is serene and offers plenty of space for entertaining after a relaxing day at the beach. Come see all that this wonderful home and community has to offer!

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: Downtown Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $272k1331k

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

Neighborhood: Downtown Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $19244701

* 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
Agnes L Smith Elementary School Primary Regular 806 27 9
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Agnes L Smith Elementary School

  • Education Level: Primary
  • # of students: 806
  • # of teachers: 27
9
GreatSchools Rating

Ethel Dwyer Middle School

  • Education Level: Middle
  • # of students: 1,243
  • # of teachers: 43
8
GreatSchools Rating

Huntington Beach Adult School

  • Education Level: High
  • # of students: 2,939
  • # of teachers: 103
9
GreatSchools Rating
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$3,699$4,521$4,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,110
EXPENSES Loan Payment -$4,168
Property Tax -$1,186
Property Insurance -$71
Property Management Fees -$201
CASH FLOW
-$1,516

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.

$1,200,000

PROJECTED PRICE

$4,110

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.1%
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$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,110

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $4,104

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,850
1$3,8502$4,1003$4,1104$4,2505$4,300
$4,300
RENT COMPS ANALYSIS
  • 509 17th Street Huntington Beach, CA 3
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $4,110
    • $2.26
    •  
  • 214 20th Street Huntington Beach, CA 1
    • 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 1974
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.04
    •  
  • 519 16th Street Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1976
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.40
    •  
  • 419 16th Street Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1980
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.17
    •  
  • 605 16th Street Huntington Beach, CA 5
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1976
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.41
    •  
PROPERTY LISTING DETAILS
Andrew Lewis
Signature Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21007921
Last Updated: 01/16/2021
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