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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.
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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
* 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 | $4,870 |
| 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
| 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
$389,470
LOAN DETAILS
$5,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $362,000 |
| Loan Amount | $1,086,000 |
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
-
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
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20262687
Last Updated: 01/01/2021
