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6431 Sligo Circle Huntington Beach, CA 92647

3 Beds 2 Baths 1,137 sqft Built 1962

$848,888

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $746.60
  • 3 Days on Market
  • MLS # : OC21027496
  • Updated Date : 02/12/2021 at 06:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,137 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Absolutely Charming 3 Bedroom, 2 Bath Single Story Stardust Home Situated on a Quiet Interior Cul-De-Sac in Highly Desired Neighborhood in Top School Zone (Circle View, Spring View, Marina), PLUS Garage is Converted to Family Room with Walk-In Closet and Huge Laundry Room - It even has a Bar and Pot-Belly Fireplace, Great as "Man-Cave" Entertainment Room (non-conforming). It Boasts Central A/C, Fresh Interior Paint, New Berber Carpet in Bedrooms, Beautiful Hardwood Flooring in Entry, Living Room & Dining Room, Ceiling Fans, Mirrored Closet Doors and Remodeled Master Bathroom. Lovely Curb Appeal with Brick Planters and Brick-Accented Driveway. Step Through the Custom Front Door with Beveled Glass to the Entry Foyer with Brick-Accented Wine Cellar Storage Closet and Elegant Formal Dining Room with Custom Built-In Cabinetry with Glass Display Panels with Lighting - Perfect as China Hutch. Step Down to the Lovely Sunlit Living Room with Brick Fireplace and Slider to the Beautiful Backyard with Brick Patio, Lawn, Shade Tree, Garden Areas, Block Wall Fencing and Storage Shed - Perfect for Outdoor Living, Relaxing, and Entertaining! The Kitchen Boasts Tile Countertops, Garden Window, Stainless Sinks, Stainless Gas Range & Dishwasher, Plus a Microwave Niche. It is Close to the Beach, Meadowlark Golf Club, Bella Terra, Westminster Mall, Goldenwest Park, Award-Winning Schools, and Easy Freeway Access (405, 605 & 22).

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
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
 

$763,999$933,777$848,888

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$2,949
Property Tax -$847
Property Insurance -$55
Property Management Fees -$148
CASH FLOW
-$969

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.

$848,888

PROJECTED PRICE

$3,030

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,705

INVESTMENT

$230,705

Down Payment
$212,222
Rehab Estimate
$5,750
Closing Costs
$12,733

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,949

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,222
Loan Amount $636,666
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,736

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $2.66

    LIST RENT PER SQFT
  • $2,712

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0303$3,1004$3,1505$3,250
$3,250
RENT COMPS ANALYSIS
  • 6431 Sligo Circle Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $2.66
    •  
  • 6942 Oxford Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1962
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.35
    •  
  • 15802 Plymouth Lane Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1963
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.39
    •  
  • 15641 Mayflower Lane Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,330 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,330 Sqft ∙ Built 1964
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.37
    •  
  • 15862 Belfast Lane Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1964
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.43
    •  
PROPERTY LISTING DETAILS
Sandi Barry
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21027496
Last Updated: 02/12/2021
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