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5811 Chinook Drive Huntington Beach, CA 92647

3 Beds 2 Baths 1,548 sqft Built 1962

$812,900

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $525.13
  • 3 Days on Market
  • MLS # : OC20255588
  • Updated Date : 12/11/2020 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,548 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Stunning Upgraded & Expanded 3 Bedrm, 2 Bath Single Story Home w/1548 SF. It Boasts an Open Concept Floorplan w/Modern Chic Decor that incorporates the Great Room-Style Elegant Living Rm, Lg. Dining Rm w/Wall of High-Gloss Custom Cabinetry and Huge Family Rm w/Brick Fireplace. Home Features: Dual Pane Windows, New Pergo Portfolio Wood Laminate Waterproof Flooring, Crown Molding, High Baseboards, Designer Paint, Newly Updated Cool Wall Exterior (50 Year Warranty), New Exterior Doors, "Nest" Connected Thermostat, "Nest" Front Door Lock, "Nest" Door Bell Camera, "Nest" Smoke & Carbon Monoxide detector, Updated Insulation in Walls, Designer Light Fixtures. Exquisite Contemporary Kitchen Boasts Corian-type Countertops, Euro-Style High Gloss Cabinetry w/Self-Closing Deep Drawers & Under-Cabinet Lighting, Stainless Appliances (5-Burner Gas Range, Microwave, Dishwasher) & Deep Chef's Sinks. Both Baths are Upgraded w/Subway Tile Surrounds & Newer Fixtures. New Designer Vanity and Tub/Shower Combo in Guest Bath & Pedestal Sink & Walk-In Shower in Master. This Lovely Home has Beautiful Curb Appeal w/Brick-Accented Driveway, 10-Year-New Roof (40 Year), Manicured Landscaping, "Smart Light" Exterior Lighting & Private Gated Courtyard w/Lawn & Gardens. Enjoy Ocean Breezes in the Lovely Wrap-Around Yard w/Patio & Raised Planters. "Finished" Oversized 2-Car Garage has Custom Storage Cabinets, Attic Storage & Laundry Area. Great neighborhood -Walk to Park, Close to Beach & Excellent Schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
Schroeder Elementary School Primary Regular 636 25 8
Helen Stacey Middle School Middle Regular 907 39 8
Marina High School High Regular 2,438 93 9

Schroeder Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 25
8
GreatSchools Rating

Helen Stacey Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 39
8
GreatSchools Rating

Marina High School

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

$731,610$894,190$812,900

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,999
Property Tax -$837
Property Insurance -$65
Property Management Fees -$155
CASH FLOW
-$896

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.

$812,900

PROJECTED PRICE

$3,160

PROJECTED RENT

0.39%

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$221,169

INVESTMENT

$221,169

Down Payment
$203,225
Rehab Estimate
$5,750
Closing Costs
$12,194

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,999

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $203,225
Loan Amount $609,675
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $3,301

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,895
1$2,8952$3,0003$3,0954$3,1605$3,300
$3,300
RENT COMPS ANALYSIS
  • 5811 Chinook Drive Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.04
    •  
  • 5581 Rochelle Avenue Westminster, CA 1
    • 4 beds 2 baths ∙ 1,551 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,551 Sqft ∙ Built 1955
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.87
    •  
  • 5325 Victoria Place Westminster, CA 2
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1972
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.19
    •  
  • 5252 Saint George Road Westminster, CA 3
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1973
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $2.18
    •  
  • 5902 Chinook Drive Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1963
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.29
    •  
PROPERTY LISTING DETAILS
Chelsea Sullivan
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20255588
Last Updated: 12/11/2020
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