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 1965
- Price/Sqft : $607.36
- 3 Days on Market
- MLS # : OC21021382
- Updated Date : 02/05/2021 at 18:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,644 sqft
- Baths : 2 full
Listing Agent
Ocean Breeze Properties
Listing Agent's Description
Rarely on the market - Once in a while you find a home that had tender loving care. You know it the minute you walk in; this is one of them. A few steps away from Meadowlark Golf Course in a fabulously cared for neighborhood. Large living room with marble fireplace, spacious dining off kitchen, enlarged bedroom 20 x 13 with fireplace, center atrium that brightens the whole house, newer kitchen appliances. Lovely back yard with covered patio, meticulous garage with built-in cabinets, work space. Conveniently located to great schools, shopping, churches, parks and transportation. “New 50-year roof installed in 2019.” • Italian porcelain tile in all but the bedrooms. • Wood floors in bedrooms. • Remotely activated skylight installed in front guest bedroom with auto sensors to close if senses water or animals. • Remodeled kitchen with granite counter tops and natural stone backsplash along with hi-quality stainless sink and faucet. • California Deluxe vinyl double-paned windows • Upgraded inside doors and baseboards • Room expansion and fireplace in master bedroom. • Induction range top • Convection oven, microwave, and dishwasher. • Recently upgraded front yard; retaining wall and landscaped garden area • Brinks alarms system to central station. • Garage with cabinets and office. • Garage floor epoxy coated. • Tuff Shed storage shed.
SEE MORE
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: Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Huntington Beach
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,250 |
| EXPENSES | Loan Payment | -$3,468 |
| Property Tax | -$989 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$159 | |
|
CASH FLOW
-$1,433
|
||
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.
$998,500
PROJECTED PRICE
$3,250
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$270,353
LOAN DETAILS
$3,468
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $249,625 |
| Loan Amount | $748,875 |
0.17
YEARS SAVED
$143
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,250
LIST RENT -
$1.98
LIST RENT PER SQFT
-
$3,370
COMP ESTIMATED VALUE -
$2.05
COMP AVG. RENT PER SQFT
Comps Range
-
5921 Donlyn Drive Huntington Beach, CA 4
- 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $3,250
- $1.98
-
5981 Midiron Circle Huntington Beach, CA 1
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1973
LEASED 03/28/20- Rent
- Rent Per SQFT
- $2,995
- $2.00
-
17202 Treehaven Lane Huntington Beach, CA 2
- 4 beds 2 baths ∙ 1,449 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,449 Sqft ∙ Built 1965
LEASED 11/04/20- Rent
- Rent Per SQFT
- $2,995
- $2.07
-
16301 Fairway Lane Huntington Beach, CA 3
- 4 beds 3 baths ∙ 1,654 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,654 Sqft ∙ Built 1962
LEASED 02/23/20- Rent
- Rent Per SQFT
- $3,250
- $1.96
-
5831 Trophy Drive Huntington Beach, CA 5
- 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,746 Sqft ∙ Built 1963
LEASED 01/14/21- Rent
- Rent Per SQFT
- $3,795
- $2.17
PROPERTY LISTING DETAILS
Ocean Breeze Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21021382
Last Updated: 02/05/2021
