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613 Delaware Street Huntington Beach, CA 92648

3 Beds 2 Baths 2,721 sqft Built 1990

$1,448,000

List Price

$4,870

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $532.16
  • 16 Days on Market
  • MLS # : OC20262687
  • Updated Date : 01/01/2021 at 22:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,721 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Gorgeous home offers comfort & functionality on every level & is located on an elevated lot w/a private front patio close to one of the most desirable beaches in OC. Attention to detail can be seen throughout this immaculate 3 bedroom home which offers outdoor space from every room. On the main level there is a large family room w/French doors that open to the private front patio & allow ocean breezes in. A full bathroom & office which can be easily converted to a 4th bedroom on the 1st floor. There is also a RARE mstr bedroom on the main level w/2 closets & full bath. The 2nd floor boasts an open floor plan w/living room, cozy fireplace & formal dining off the chef’s kitchen which showcases S/S appliances incl. a double oven & granite counters w/trendy white cabinets & large island. There is a 2nd mstr suite w/walk-in closet, large glass enclosed shower & dual sink vanity on the 2nd floor. To complete the 2nd floor there is another ensuite bedroom. The 3rd floor encompasses a spacious rooftop deck perfect for relaxing, entertaining, enjoying sunset views w/storage, lighting & hookups for gas, electric & water. Custom appointments incl. double pane windows, beautiful wide plank European Oak flooring incl. staircases, laundry on the 2nd floor, skylights & outdoor shower. The front patio is the perfect accent w/professional landscaping & mature trees while being in close proximity to schools. Enjoy beach living w/exceptional restaurants & shopping at Pacific City & downtown HB.

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
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
 

$1,303,200$1,592,800$1,448,000

PURCHASE PRICE

$4,383$5,357$4,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,870
EXPENSES Loan Payment -$5,029
Property Tax -$1,431
Property Insurance -$93
Property Management Fees -$239
CASH FLOW
-$1,921

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.

$1,448,000

PROJECTED PRICE

$4,870

PROJECTED RENT

0.34%

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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$389,470

INVESTMENT

$389,470

Down Payment
$362,000
Rehab Estimate
$5,750
Closing Costs
$21,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,029

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $362,000
Loan Amount $1,086,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$608

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,870

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $4,524

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,7003$4,8004$4,8705$4,995
$4,995
RENT COMPS ANALYSIS
  • 613 Delaware Street Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 2,721 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,721 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,870
    • $1.79
    •  
  • 222 Portland Avenue Huntington Beach, CA 1
    • 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,600 Sqft ∙ Built 1984
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.38
    •  
  • 20854 Cabrillo Lane Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 2001
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.70
    •  
  • 608 Indianapolis Avenue Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2002
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $1.75
    •  
  • 512 Indianapolis Avenue Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2002
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.82
    •  
PROPERTY LISTING DETAILS
Brian Bogs
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20262687
Last Updated: 01/01/2021
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