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5182 Sparrow Drive Huntington Beach, CA 92649

3 Beds 1 Baths 1,232 sqft Built 1960

$855,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $693.99
  • 9 Days on Market
  • MLS # : OC20261937
  • Updated Date : 01/01/2021 at 10:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 1 full
Listing Agent

Berkshire Hathaway Hscp

Listing Agent's Description

Wonderful 3 bedroom, 2 bath home located in a quiet interior cul-de-sac in the Robinwood Tract, part of the highly sought after Northwest Huntington Beach. The home is located on an inside " destination street" with great curb appeal and is less than 3.5 miles from the ocean, shopping and award winning schools (part of Ocean View School district and within 10 min walking distance to Marina High School). This single level home has many upgraded features and is ready for you to move in. The home features a brand new high quality driveway, newer updated double pane windows throughout and newer updated copper piping. The entire house has just been painted inside and out and features upgraded bathrooms and a cozy kitchen with granite countertops for a family breakfast. Enjoy the woodburning fireplace on a chilly night in the living room as well as the brand new carpet in both living room and all bedrooms. The yard is adorned with mature beautiful trees and a covered patio for a pleasant evening outside enjoying the great California weather. Finished garage with space for 2 vehicles and a generous driveway which easily parks multiple vehicles. This is a wonderful home in which to create new memories. Welcome Home!. The home is sold as is , includes stove and dish washer. Now ready for viewings !

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: 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
Village View Elementary School Primary Regular 555 23 8
Spring View Middle School Middle Regular 798 32 7
Marina High School High Regular 2,438 93 9

Village View Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 23
8
GreatSchools Rating

Spring View Middle School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
7
GreatSchools Rating

Marina High School

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

$769,500$940,500$855,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$3,155
Property Tax -$847
Property Insurance -$57
Property Management Fees -$150
CASH FLOW
-$1,148

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.

$855,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$232,325

INVESTMENT

$232,325

Down Payment
$213,750
Rehab Estimate
$5,750
Closing Costs
$12,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,155

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $213,750
Loan Amount $641,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $2.48

    LIST RENT PER SQFT
  • $3,092

    COMP ESTIMATED VALUE
  • $2.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$2,9953$3,0004$3,0605$3,150
$3,150
RENT COMPS ANALYSIS
  • 5182 Sparrow Drive Huntington Beach, CA 4
    • 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $2.48
    •  
  • 5141 Cheryl Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1960
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $2.50
    •  
  • 4642 Operetta Drive Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1962
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.61
    •  
  • 5382 Hendricksen Drive Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1962
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.47
    •  
  • 4551 Minuet Drive Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,279 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,279 Sqft ∙ Built 1963
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.46
    •  
PROPERTY LISTING DETAILS
Mette Karapetian
Berkshire Hathaway Hscp
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20261937
Last Updated: 01/01/2021
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