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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $611.53
- 3 Days on Market
- MLS # : IG21035371
- Updated Date : 02/19/2021 at 17:46
CONSTRUCTION
- Beds : 4
- Floor Size : 1,578 sqft
- Baths : 2 full
Listing Agent
First Team Real Estate
Listing Agent's Description
Live Beautifully in this tastefully updated Single Story Home. Recent improvements include a Gorgeous custom kitchen featuring stainless steel appliances, tile floors and lots of cabinets space. This home has an abundance of natural light through the Updated dual pane Milgard windows with custom built french doors. New plank flooring has been installed throughout the home along with tall base boards accented by freshly painted walls. The four large bedrooms have ample closet space, and the Master bedroom has its own private bathroom. The back yard pool is perfectly situated adjacent to the concrete patio along with the grassy area. This home is Truly Turn Key
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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 | $3,270 |
| EXPENSES | Loan Payment | -$3,352 |
| Property Tax | -$956 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$160 | |
|
CASH FLOW
-$1,263
|
||
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.
$965,000
PROJECTED PRICE
$3,270
PROJECTED RENT
0.34%
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
$261,475
LOAN DETAILS
$3,352
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $241,250 |
| Loan Amount | $723,750 |
0.25
YEARS SAVED
$448
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,270
LIST RENT -
$2.07
LIST RENT PER SQFT
-
$3,243
COMP ESTIMATED VALUE -
$2.06
COMP AVG. RENT PER SQFT
Comps Range
-
6092 Summerdale Drive Huntington Beach, CA 3
- 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,578 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $3,270
- $2.07
-
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
-
17521 Berlark Circle Huntington Beach, CA 4
- 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973
LEASED 08/17/20- Rent
- Rent Per SQFT
- $3,395
- $1.98
-
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
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21035371
Last Updated: 02/19/2021
