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6412 Bellinger Drive Huntington Beach, CA 92647

5 Beds 1 Baths 1,924 sqft Built 1965

$975,000

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $506.76
  • 8 Days on Market
  • MLS # : OC21031000
  • Updated Date : 02/20/2021 at 06:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,924 sqft
  • Baths : 1 full
Listing Agent

Surterre Properties Inc

Listing Agent's Description

Welcome to Bellinger Drive in the sought after Prestige community. Situated on the cul de sac, this charming 5 bedroom, 2 bathroom home is newly remodeled creating an open, light and bright home. Upon entry, the family and dining room flow naturally into the kitchen. Both kitchen and dining room are graced with beautiful dual paned windows. Together with the family room sliding glass doors, the rooms are flooded with light. The downstairs hallway leads to a main floor bedroom and bathroom. Upstairs are four bedrooms and an updated bathroom with a new dual sink vanity. New interior updates include: wood inspired flooring throughout, freshly painted interior, 4 inch baseboards, switches and outlets, scraped ceilings, canned lighting, door hardware, and faucets in kitchen and bathrooms. Relatively new are the dual pane windows and slider, the roof and the water heater. This pool sized lot is landscaped with a covered patio surrounding two sides of the home and a plethora of thriving roses and prolific fruit trees including lemon, lime, orange, grapefruit, tangerine, fig, guava and more. This charming gem is perfectly located close to the beach, shopping malls and freeway. Low tax rate, no HOA.

SEE MORE

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

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
Circle View Elementary School Primary Magnet 711 25 10
Spring View Middle School Middle Regular 798 32 7
Marina High School High Regular 2,438 93 9

Circle View Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 25
10
GreatSchools Rating

Spring View Middle School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
7
GreatSchools Rating

Marina High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 93
9
GreatSchools Rating
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$3,387
Property Tax -$966
Property Insurance -$74
Property Management Fees -$184
CASH FLOW
-$859

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.

$975,000

PROJECTED PRICE

$3,750

PROJECTED RENT

0.38%

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

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$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,387

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$8,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,750

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,771

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7503$3,8004$3,9005$4,000
$4,000
RENT COMPS ANALYSIS
  • 6412 Bellinger Drive Huntington Beach, CA 2
    • 5 beds 1 baths ∙ 1,924 Sqft ∙ Built 1965 5 beds 1 baths ∙ 1,924 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.95
    •  
  • 15921 Carrie Lane Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1962
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.80
    •  
  • 15561 Whiteoak Lane Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1972
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.95
    •  
  • 16691 Marie Lane Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,956 Sqft ∙ Built 1963
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.99
    •  
  • 16262 Bradbury Lane Huntington Beach, CA 5
    • 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1964 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1964
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.10
    •  
PROPERTY LISTING DETAILS
Pryor Summers
Surterre Properties Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21031000
Last Updated: 02/20/2021
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