Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6582 Marilyn Drive Huntington Beach, CA 92647

4 Beds 2 Baths 1,451 sqft Built 1972

$879,900

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $606.41
  • 7 Days on Market
  • MLS # : SW20252890
  • Updated Date : 12/12/2020 at 07:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

***** This one has it all! *****A terrific interior tract location with no rear neighbors in wonderful Huntington Beach! Enjoy surf city living at its finest in this very open floorpan. A private gated courtyard welcomes you as you walk into an actual formal entry. Wood floors, volume ceilings and a warm fire place set the stage in this large living area. A large slider and picture window bring in lots of natural light to the entire living area. Would you like a large kitchen with room for the island of your dreams? This one has the space for it! Newer cabinets, a stove with 4 burners and a griddle, new solid granite counters, lighting and a deep sink complete this fantastic space. Down the wide hallway are four bedrooms with new ceiling fans, built in closets, interior raised paneled doors and hardware. The secondary bathroom has been updated with new vanity, lighting and fixtures. The generous master bedroom boasts two closets, an updated private bathroom and its own slider to the backyard. Fruit trees, a patio cover and ample grass area complete the private yard. Tucked in toward the end of the cul de sac, this quiet location is close to award winning schools, services, shopping and of course the beach. Showings to start Friday Dec 11 after noon, with professional photos to come: make an appointment to view today!

SEE MORE

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
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
 

$791,910$967,890$879,900

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,246
Property Tax -$871
Property Insurance -$62
Property Management Fees -$162
CASH FLOW
-$1,042

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.

$879,900

PROJECTED PRICE

$3,300

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$238,924

INVESTMENT

$238,924

Down Payment
$219,975
Rehab Estimate
$5,750
Closing Costs
$13,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,246

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $219,975
Loan Amount $659,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $3,287

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2503$3,3004$3,3505$3,375
$3,375
RENT COMPS ANALYSIS
  • 6582 Marilyn Drive Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.27
    •  
  • 16682 Robert Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1964
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.21
    •  
  • 6831 Rook Drive Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 1969
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.24
    •  
  • 6671 Marilyn Drive Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,470 Sqft ∙ Built 1972
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.28
    •  
  • 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
Leslie Carrillo
Homesmart
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20252890
Last Updated: 12/12/2020
BESbswy