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6062 Thor Drive Huntington Beach, CA 92647

3 Beds 2 Baths 1,413 sqft Built 1964

$829,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $586.69
  • 5 Days on Market
  • MLS # : PW21036986
  • Updated Date : 02/24/2021 at 10:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,413 sqft
  • Baths : 2 full
Listing Agent

Boydstun Rlty & Prop Mngmt Inc

Listing Agent's Description

You will truly enjoy this 3 bedroom, 2 bath home that has a spacious backyard with fruit trees, storage shed and backs to the channel offering complete privacy. Newer dual pane windows and patio door. Freshly painted through out. 2 car attached garage with direct access into the kitchen. Larger master bedroom with built in storage that can be used as sitting area. This house is ready to become your new home!

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

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
Helen Stacey Middle School Middle Regular 907 39 8
Marina High School High Regular 2,438 93 9

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
 

$746,100$911,900$829,000

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$2,879
Property Tax -$854
Property Insurance -$61
Property Management Fees -$163
CASH FLOW
-$628

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.

$829,000

PROJECTED PRICE

$3,330

PROJECTED RENT

0.40%

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

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$225,435

INVESTMENT

$225,435

Down Payment
$207,250
Rehab Estimate
$5,750
Closing Costs
$12,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,879

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,250
Loan Amount $621,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$11,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $3,363

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2503$3,3004$3,3305$3,450
$3,450
RENT COMPS ANALYSIS
  • 6062 Thor Drive Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $2.36
    •  
  • 6072 Briarcliff Drive Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 1,330 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,330 Sqft ∙ Built 1965
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.41
    •  
  • 14912 Sunnycrest Lane Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,318 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,318 Sqft ∙ Built 1963
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.47
    •  
  • 6011 Thor Drive Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1967
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.13
    •  
  • 6552 Paris Circle Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1962
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $2.51
    •  
PROPERTY LISTING DETAILS
Reon Boydstun Howard
Boydstun Rlty & Prop Mngmt Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21036986
Last Updated: 02/24/2021
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