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612 21st Street Huntington Beach, CA 92648

4 Beds 3 Baths 1,830 sqft Built 1976

$1,149,900

List Price

$4,040

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $628.36
  • 73 Days on Market
  • MLS # : OC20217312
  • Updated Date : 12/22/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,830 sqft
  • Baths : 2 full , 1 half
Listing Agent

H & M Realty Group

Listing Agent's Description

New Price!! So close to the Beach and Downtown Huntington Beach this is a house that cannot be passed by! As the home sits its a couple blocks from the beach and only a short distance from the Huntington Beach Pier. Main Street and Pacific City Huntington Beach are a quick walk down the road for one of a kind entertainment and shopping. See yourself walking out your front door, and being in the Ocean within a matter of minutes! New double pane windows throughout the house. Four Bedrooms and three bathrooms; there is a great amount of space in this amazing home along with the huge patio in the backyard that has a large patio cover. A detached two car garage that faces the alley is great for no hassle parking. The house has tile floors downstairs and some carpet throughout along with newly painted interior. All of the features of the home are one of a kind, and this home provides a great front patio for the primary bedroom downstairs with a small lawn. Two bedrooms upstairs have their own balcony, and there is a patio upstairs off the hallway for enjoying the day on the second floor. Home has one common wall with another home.

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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: Downtown Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300kPrice in $272k1331k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Downtown Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $19244701

* 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
Agnes L Smith Elementary School Primary Regular 806 27 9
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Agnes L Smith Elementary School

  • Education Level: Primary
  • # of students: 806
  • # of teachers: 27
9
GreatSchools Rating

Ethel Dwyer Middle School

  • Education Level: Middle
  • # of students: 1,243
  • # of teachers: 43
8
GreatSchools Rating

Huntington Beach Adult School

  • Education Level: High
  • # of students: 2,939
  • # of teachers: 103
9
GreatSchools Rating
 

$1,034,910$1,264,890$1,149,900

PURCHASE PRICE

$3,636$4,444$4,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,040
EXPENSES Loan Payment -$4,243
Property Tax -$1,136
Property Insurance -$71
Property Management Fees -$198
CASH FLOW
-$1,608

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,149,900

PROJECTED PRICE

$4,040

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,474

INVESTMENT

$310,474

Down Payment
$287,475
Rehab Estimate
$5,750
Closing Costs
$17,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,475
Loan Amount $862,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,040

    LIST RENT
  • $2.21

    LIST RENT PER SQFT
  • $4,026

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$3,8003$4,0404$4,1005$4,250
$4,250
RENT COMPS ANALYSIS
  • 612 21st Street Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $4,040
    • $2.21
    •  
  • 19742 Shorecliff Lane Huntington Beach, CA 1
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1976
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.14
    •  
  • 328 22nd Street Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1977
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.09
    •  
  • 519 16th Street Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1976
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.40
    •  
  • 419 16th Street Huntington Beach, CA 5
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1980
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.17
    •  
PROPERTY LISTING DETAILS
Peter Mckernan
H & M Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20217312
Last Updated: 12/22/2020
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