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6572 Marilyn Drive Huntington Beach, CA 92647

4 Beds 3 Baths 1,859 sqft Built 1972

$889,900

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $478.70
  • 2 Days on Market
  • MLS # : RS20231043
  • Updated Date : 11/02/2020 at 13:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,859 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

WOW! This wonderful 2-story Cal Classic home is a great deal ! Prime interior tract cul-de-sac location! Home features new paint with carpet/laminate wood floors, 2 inch wood blinds, scraped & vaulted ceilings, 2 fireplaces! Incredible floor plan features a huge upstairs family/bonus room + full bathroom which can easily be converted to a 2nd master bedroom suite or 4/5 bedrooms! No homes located behind you! Relax in private backyard. Perfect location near great schools, parks, & the beach !

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
College View Elementary School Primary Regular 461 17 7
Spring View Middle School Middle Regular 798 32 7
Ocean View High School High Magnet 1,549 58 5

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

Ocean View High School

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

$800,910$978,890$889,900

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$3,283
Property Tax -$881
Property Insurance -$72
Property Management Fees -$165
CASH FLOW
-$1,032

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.

$889,900

PROJECTED PRICE

$3,370

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-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$241,574

INVESTMENT

$241,574

Down Payment
$222,475
Rehab Estimate
$5,750
Closing Costs
$13,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,283

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,475
Loan Amount $667,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,630

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,370
1$3,3702$3,5003$3,5004$3,7005$3,800
$3,800
RENT COMPS ANALYSIS
  • 6572 Marilyn Drive Huntington Beach, CA 1
    • 4 beds 3 baths ∙ 1,859 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,859 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $1.81
    •  
  • 16362 Woodstock Lane Huntington Beach, CA 2
    • 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 3
    • 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
    •  
  • 16682 Kettler Lane Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1963
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.85
    •  
  • 5942 Franmar Circle Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1964
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.01
    •  
PROPERTY LISTING DETAILS
Mark Urlich
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS20231043
Last Updated: 11/02/2020
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