Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Downtown Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$310,500
LOAN DETAILS
$4,243
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $287,500 |
| Loan Amount | $862,500 |
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
-
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
Realty One Group West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20256516
Last Updated: 12/15/2020
