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511 17th Street Huntington Beach, CA 92648

3 Beds 3 Baths 1,937 sqft Built 1977

$1,150,000

List Price

$4,160

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $593.70
  • 6 Days on Market
  • MLS # : PW20256516
  • Updated Date : 12/15/2020 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,937 sqft
  • Baths : 3 full
Listing Agent

Realty One Group West

Listing Agent's Description

Great opportunity to own a Beach home just steps to the beach! Situated in a great location central to everything you need for coastal living! Just a short distance to the sand, waves, boardwalk, restaurants, shops of Pacific City / Main St as well as Dog Beach. As you walk up you will find the enclosed front patio offering ideal space to enjoy the ocean breeze and sunlight. When you enter the front door the first thing you will come to notice is the huge open living space on the first level with an abundance of airflow and light due to the high ceilings. One bedroom downstairs and two bedrooms upstairs. This property also has a third level deck great for views and hanging out.

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: 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
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,744$4,576$4,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,160
EXPENSES Loan Payment -$4,243
Property Tax -$1,136
Property Insurance -$74
Property Management Fees -$204
CASH FLOW
-$1,497

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.

$1,150,000

PROJECTED PRICE

$4,160

PROJECTED RENT

0.36%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,160

    LIST RENT
  • $2.15

    LIST RENT PER SQFT
  • $4,145

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$3,800
1$3,8002$3,8503$4,0254$4,1605$4,250
$4,250
RENT COMPS ANALYSIS
  • 511 17th Street Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,937 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $4,160
    • $2.15
    •  
  • 328 22nd Street Huntington Beach, CA 1
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1977
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.09
    •  
  • 214 20th Street Huntington Beach, CA 2
    • 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
    •  
  • 1900 Pacific Coast Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1989
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,025
    • $2.26
    •  
  • 419 16th Street Huntington Beach, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Dakoda Muta
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20256516
Last Updated: 12/15/2020
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