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7111 Heil Avenue Huntington Beach, CA 92647

4 Beds 3 Baths 2,792 sqft Built 1968

INVESTimate

$1,000,000

List Price

$3,950

$3,700 - $4,200

Rent Est.

$1,052,200  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1968
  • Price/Sqft : $358.17
  • 9 Days on Market
  • MLS # : OC20168838
  • Updated Date : 08/20/2020 at 12:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,792 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Dramatic 2 story double door entry with soaring cathedral celings in foyer and living room. Switchback staircase overlooking massive living room. Updated family style kitchen on backside of house overlooking backyard and step down living room complete with cozy woodburning fireplace. Formal dining room just off kitchen and open the the living room. Open stairs with balcony looking over the living room. Soaring cathedral ceiling in the master with walk-in closet. All bedrooms up are huge, also. The most dramatic of all the Prestige floorplans.

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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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
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
 

$900,000$1,100,000$1,000,000

PURCHASE PRICE

$3,555$4,345$3,950

RENT

DOWN PAYMENT
FINANCING

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$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,950
EXPENSES Loan Payment -$3,690
Property Tax -$990
Property Insurance -$94
Property Management Fees -$194
CASH FLOW
-$1,018

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.

$1,000,000

PROJECTED PRICE

$3,950

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $250,000
Loan Amount $750,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$8,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,950

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $4,286

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,0503$4,2004$4,4905$4,900
$4,900
RENT COMPS ANALYSIS
  • 7111 Heil Avenue Huntington Beach, 1
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.41
    •  
  • 17362 Gibson Circle Huntington Beach, 2
    • 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 1969
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.56
    •  
  • 17341 Gibson Circle Huntington Beach, 3
    • 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 1969
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.54
    •  
  • 6841 Loyola Drive Huntington Beach, 4
    • 5 beds 4 baths ∙ 3,062 Sqft ∙ Built 1970 5 beds 4 baths ∙ 3,062 Sqft ∙ Built 1970
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,490
    • $1.47
    •  
  • 7041 Stonewood Drive Huntington Beach, 5
    • 5 beds 4 baths ∙ 3,117 Sqft ∙ Built 1966 5 beds 4 baths ∙ 3,117 Sqft ∙ Built 1966
    property image
    LEASED 07/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $1.57
    •  
PROPERTY LISTING DETAILS
Tim Tucker
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20168838
Last Updated: 08/20/2020
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