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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $530.31
- 3 Days on Market
- MLS # : PW21046801
- Updated Date : 03/05/2021 at 18:56
CONSTRUCTION
- Beds : 4
- Floor Size : 2,451 sqft
- Baths : 2 full , 1 half
Listing Agent
Uniti Realty
Listing Agent's Description
Stunning two-story home with 4 bedrooms, 3 baths in great neighborhood! Grand entry way with vaulted ceilings formal living area and cozy fireplace that enhances the space as guest enter. Dining area looks out to the private backyard and patio area. Fully equipped kitchen features stainless steel appliances, dual ovens, granite countertops, ample storage and a convenient breakfast bar. The great room is open to the kitchen and provides lots of space for relaxing or entertaining with friends and family. Enjoy a wet bar area in the great room. Expansive backyard with plenty of patio space, lush lawn, mature landscaping and beautiful garden. Upstairs you will find four well-appointed bedrooms. The master suite has high ceilings and a private balcony that looks out to the backyard . Spacious ensuite bath with walk in closet. The home has the perfect layout for anyone who needs space and looking for a wonderful Huntington Beach Neighborhood. You will absolutely love this home and all that the coastal Huntington Beach lifestyle has to offer. Conveniently located next to the Bolsa Chica Wetlands and Central Park, walking trails and award winning schools.
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MARKET HIGHLIGHTS
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
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 | $4,240 |
| EXPENSES | Loan Payment | -$4,515 |
| Property Tax | -$1,284 | |
| Property Insurance | -$86 | |
| Property Management Fees | -$208 | |
|
CASH FLOW
-$1,853
|
||
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.
$1,299,800
PROJECTED PRICE
$4,240
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
$350,197
LOAN DETAILS
$4,515
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $324,950 |
| Loan Amount | $974,850 |
0.17
YEARS SAVED
$208
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,240
LIST RENT -
$1.73
LIST RENT PER SQFT
-
$4,412
COMP ESTIMATED VALUE -
$1.8
COMP AVG. RENT PER SQFT
Comps Range
-
6002 Kenwick Circle Huntington Beach, CA 3
- 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1978
- Rent
- Rent Per SQFT
- $4,240
- $1.73
-
5831 Midway Drive Huntington Beach, CA 1
- 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1976
LEASED 02/05/20- Rent
- Rent Per SQFT
- $4,200
- $1.70
-
5902 Carbeck Drive Huntington Beach, CA 2
- 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1977
LEASED 11/04/20- Rent
- Rent Per SQFT
- $4,200
- $1.70
-
5802 Midway Drive Huntington Beach, CA 4
- 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1977
LEASED 09/06/20- Rent
- Rent Per SQFT
- $4,700
- $1.90
-
18282 Fieldbury Lane Huntington Beach, CA 5
- 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 1980
LEASED 09/06/19- Rent
- Rent Per SQFT
- $4,700
- $1.90
PROPERTY LISTING DETAILS
Uniti Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21046801
Last Updated: 03/05/2021
