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PROPERTY INFO
FACTS
- Single Family
- Built In 1960
- Price/Sqft : $522.67
- 4 Days on Market
- MLS # : OC20241618
- Updated Date : 12/04/2020 at 16:22
CONSTRUCTION
- Beds : 4
- Floor Size : 1,720 sqft
- Baths : 2 full
Listing Agent
Bullock Russell Re Services
Listing Agent's Description
Prime location single-level home on a large corner lot! Conveniently located in the safe and quiet neighborhood of Huntington Village. This beach-close home has it all and is ready for its new owner! This mid-century house has a fully remodeled kitchen with beautiful cherry cabinets and granite countertops. The layout is effortlessly functional with the living room opening up to the dining area and flowing into a classic river rock-framed fireplace in the corner. The inviting backyard is perfect for entertainers as you can enjoy the large pool & jacuzzi and still have plenty of space for outdoor dining & lounging. All four bedrooms are equipped with ceiling fans with remote controls. The master bedroom is complete including a remodeled en suite bathroom with a large walk-in shower. The garage has built-in storage and an upgraded roll-up door that is so quiet, you can hardly hear it! Next to award winning schools and beaches, plus just a short distance to the freeways!
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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: Bolsa Chica-Heil
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bolsa Chica-Heil
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,610 |
| EXPENSES | Loan Payment | -$3,317 |
| Property Tax | -$890 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$177 | |
|
CASH FLOW
-$843
|
||
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.
$899,000
PROJECTED PRICE
$3,610
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 4.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| 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
$243,985
LOAN DETAILS
$3,317
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $224,750 |
| Loan Amount | $674,250 |
1.58
YEARS SAVED
$10,189
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,610
LIST RENT -
$2.1
LIST RENT PER SQFT
-
$3,965
COMP ESTIMATED VALUE -
$2.3
COMP AVG. RENT PER SQFT
Comps Range
-
5191 Sisson Drive Huntington Beach, CA 2
- 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1960
- Rent
- Rent Per SQFT
- $3,610
- $2.10
-
5092 Flamingo Circle Huntington Beach, CA 1
- 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1961
LEASED 10/14/20- Rent
- Rent Per SQFT
- $3,600
- $2.30
-
4811 Kaui Drive Huntington Beach, CA 3
- 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963
LEASED 09/14/20- Rent
- Rent Per SQFT
- $3,695
- $2.30
-
16191 Waikiki Lane Huntington Beach, CA 4
- 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963
LEASED 07/01/20- Rent
- Rent Per SQFT
- $3,795
- $2.24
-
5131 Sisson Drive Huntington Beach, CA 5
- 4 beds 2 baths ∙ 1,678 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,678 Sqft ∙ Built 1959
LEASED 11/23/20- Rent
- Rent Per SQFT
- $4,000
- $2.38
PROPERTY LISTING DETAILS
Bullock Russell Re Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20241618
Last Updated: 12/04/2020
