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6522 Edgemont Drive Huntington Beach, CA 92647

4 Beds 2 Baths 1,720 sqft Built 1964

$995,000

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $578.49
  • 4 Days on Market
  • MLS # : OC21062077
  • Updated Date : 03/26/2021 at 08:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Re/max Select One

Listing Agent's Description

Beach living at it's best! This gorgeous home has been upgraded throughout and features nearly 500 sq. feet of permitted additions. It all starts with really nice curb appeal, a drought resistant front yard and an expanded driveway with possible RV access. As you enter the home you will be amazed at the size of the expanded living room with a really nice fireplace. The completely remodeled kitchen opens to the living room and features new custom cabinets with pull outs, granite counters with a breakfast bar, stainless steel appliances, a brick backsplash, accent lighting and a skylight. The remodeled bathrooms offer elegant tiled showers, counters, walls & floors + a skylight in the master. The bedrooms offer built-in shelving in the closets, mirrored wardrobe doors, ceiling fans, a walk-in closet in the 4th bed. addition and a bay window in the master. There are really nice tile floors in the entry, kitchen, L/R & hall. Bonus features include; dual pane windows & doors thru-out, plantation shutters, all new interior doors, smooth ceilings, all new hardware, new forced air heating, air conditioning & ducting + a new water heater. The inviting rear yard comes with a partially enclosed patio with tile flooring, a fountain & open patio area, including a lattice covered side patio, a sparkling pool with a new liner, all new pavers along the pool deck and a raised block wall for extra privacy. This lovely home is also walking distance to schools, parks, shopping and restaurants!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
College View Elementary School Primary Regular 461 17 7
Spring View Middle School Middle Regular 798 32 7
Marina High School High Regular 2,438 93 9

College View Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 17
7
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
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$3,456
Property Tax -$985
Property Insurance -$69
Property Management Fees -$164
CASH FLOW
-$1,334

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.

$995,000

PROJECTED PRICE

$3,340

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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,456

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $1.94

    LIST RENT PER SQFT
  • $3,453

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$3,340
1$3,3402$3,3953$3,5004$3,5005$4,000
$4,000
RENT COMPS ANALYSIS
  • 6522 Edgemont Drive Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $1.94
    •  
  • 6862 Nyanza Drive Huntington Beach, CA 2
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1965
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.98
    •  
  • 16362 Woodstock Lane Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1965
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.91
    •  
  • 16192 Windemeir Lane Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 1965
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.04
    •  
  • 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
Randolph Aguilar
Re/max Select One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21062077
Last Updated: 03/26/2021
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