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6762 Via Carona Drive Huntington Beach, CA 92647

4 Beds 2 Baths 2,520 sqft Built 1966

$1,149,000

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $455.95
  • 6 Days on Market
  • MLS # : RS21046443
  • Updated Date : 03/17/2021 at 05:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,520 sqft
  • Baths : 2 full
Listing Agent

Ge Dean And Associates

Listing Agent's Description

This Franciscan Fountains "Spiral Staircase" model offers a spacious layout for family, gatherings and entertaining. A gated courtyard greets entrants past the 3-vehicle wide driveway & garages. Beyond the double entry doors and the namesake of the home’s model, a semi-open and circular lower-level layout flows through light-filled rooms and living areas that look towards greenery outdoors from all angles. 3 of 4 bedrooms, including the spacious master retreat, are found upstairs. This particular floorplan includes a room currently configured as a home office within the master suite, but could also be easily converted to a 5th bedroom. Mature fruit trees, landscaping, and privacy walls present a rear yard that is a peaceful garden retreat. Other notable features include: dual pane windows, oversized dual pane sliders, concrete tile roofing, beautiful brick floors throughout the downstairs, and more! Centrally located within the Mesa View tract, Via Carona is a quiet street insulated from major thoroughfares and through traffic. Located a short walk from HB Central Park, which itself offers wonderful recreation and charming dining options, this home has it all and is sure not to last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Golden View Elementary School Primary Regular 485 19 4
Mesa View Middle School Middle Magnet 806 34 9
Ocean View High School High Magnet 1,549 58 5

Golden View Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 19
4
GreatSchools Rating

Mesa View Middle School

  • Education Level: Middle
  • # of students: 806
  • # of teachers: 34
9
GreatSchools Rating

Ocean View High School

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

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$3,991
Property Tax -$1,138
Property Insurance -$88
Property Management Fees -$185
CASH FLOW
-$1,631

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.

$1,149,000

PROJECTED PRICE

$3,770

PROJECTED RENT

0.33%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,991

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$185

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,770

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $4,177

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$3,770
1$3,7702$4,0503$4,2004$4,2005$4,300
$4,300
RENT COMPS ANALYSIS
  • 6762 Via Carona Drive Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 2,520 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,520 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,770
    • $1.50
    •  
  • 17362 Gibson Circle Huntington Beach, CA 2
    • 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 1969
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.56
    •  
  • 6451 Meadow Crest Drive Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1969
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.68
    •  
  • 17152 Englewood Circle Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1968
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.68
    •  
  • 6921 Via Carona Drive Huntington Beach, CA 5
    • 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 1968
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.71
    •  
PROPERTY LISTING DETAILS
Eileen Rivera
Ge Dean And Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21046443
Last Updated: 03/17/2021
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