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6391 Vatcher Drive Huntington Beach, CA 92647

3 Beds 2 Baths 1,244 sqft Built 1967

$899,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $722.67
  • 20 Days on Market
  • MLS # : OC21000580
  • Updated Date : 01/19/2021 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,244 sqft
  • Baths : 2 full
Listing Agent

Zutila, Inc

Listing Agent's Description

Located 4 miles from Huntington Beach's (aka 'Surf City') 8.5 miles of golden sand and famous pier, this single story home's location truly has something for everyone. Bicycling, golf, kayaking, paddleboarding, and duffy boats are popular activities. Nearby Huntington Central park has nearly 350 acres to explore, and the popular dog beach is consistently rated as the best dog park in O.C. The Bolsa Chica wetland is home to walking trails and scenic routes. When it's time to go home, you'll love the bright, airy and welcoming ambiance of this house. Lots of windows and a sliding glass patio door infuse the rooms with natural light. Fresh paint, flooring, new appliances and light fixtures provide move-in ready appeal. Functional and beautiful wood look waterproof laminate floors are kid and pet friendly. The large back and front yards provide play and entertaining options with grass, and the back patio boasts a shade cover. Dining area is adjacent to the kitchen, and the living room boasts a cozy fireplace - a perfect spot hang stockings for Santa, or warm up on cool evenings. Offering defined spaces for diverse activities, this house provides options that today's buyers crave. It accommodates family closeness, or a defined space for work and relaxation for young professionals. There is plenty to like about this property , including a family friendly community, and this house - the perfect home sweet home for all generations and lifestyles.

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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: 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
Hope View Elementary School Primary Regular 677 24 9
Mesa View Middle School Middle Magnet 806 34 9
Ocean View High School High Magnet 1,549 58 5

Hope View Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 24
9
GreatSchools Rating

Mesa View Middle School

  • Education Level: Middle
  • # of students: 806
  • # of teachers: 34
9
GreatSchools Rating

Ocean View High School

  • Education Level: High
  • # of students: 1,549
  • # of teachers: 58
5
GreatSchools Rating
 

$809,100$988,900$899,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$3,123
Property Tax -$890
Property Insurance -$57
Property Management Fees -$143
CASH FLOW
-$1,293

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.

$899,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.32%

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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $2.35

    LIST RENT PER SQFT
  • $2,951

    COMP ESTIMATED VALUE
  • $2.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,920
1$2,9202$3,0953$3,2004$3,2005$3,375
$3,375
RENT COMPS ANALYSIS
  • 6391 Vatcher Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $2.35
    •  
  • 6311 Fallingwater Drive Huntington Beach, CA 2
    • 3 beds 1 baths ∙ 1,244 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,244 Sqft ∙ Built 1967
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $2.49
    •  
  • 6452 Freeborn Drive Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1970
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.21
    •  
  • 17742 Lewis Lane Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,300 Sqft ∙ Built 1966
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.46
    •  
  • 17242 Blue Fox Circle Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1971
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,375
    • $2.33
    •  
PROPERTY LISTING DETAILS
Maureen Mcgrath
Zutila, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21000580
Last Updated: 01/19/2021
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