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7274 Rosemarie Lane Huntington Beach, CA 92648

3 Beds 3 Baths 1,332 sqft Built 2008

INVESTimate

$635,000

List Price

$2,860

$2,610 - $3,110

Rent Est.

$668,147  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $476.73
  • 4 Days on Market
  • MLS # : OC20172300
  • Updated Date : 08/24/2020 at 09:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tung Nguyen

Listing Agent's Description

Welcome to this beautiful home of 3 bedrooms and 2.5 bathrooms at The Villas at Seacliff. The home is in move-in ready condition with low HOA.  It boasts a gourmet kitchen with stainless appliances, oven range, new over-the-range microwave, and granite breakfast counter-top.  The living room is wired for wall mount TV, and has a fireplace.  Living room also opens to the patio for summer BBQ.  Second floor and stairway were recently updated with new laminate flooring. Open master suite has a walk-in closet, and is open to the balcony.  All windows are updated with shutter.  In the 2 car garage, you will find an EV charger and new silent garage motor that has outside control.  House also has central-air-conditioning which is not common for the area.  One extra parking by permit in the community parking lot. There are multiple guest parking spots for your guests as well. Best of all, it is in a great location where you can bike to the beach, schools or walk to nearby shopping and parks.

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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
Agnes L Smith Elementary School Primary Regular 806 27 9
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Agnes L Smith Elementary School

  • Education Level: Primary
  • # of students: 806
  • # of teachers: 27
9
GreatSchools Rating

Ethel Dwyer Middle School

  • Education Level: Middle
  • # of students: 1,243
  • # of teachers: 43
8
GreatSchools Rating

Huntington Beach Adult School

  • Education Level: High
  • # of students: 2,939
  • # of teachers: 103
9
GreatSchools Rating
 

$571,500$698,500$635,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,343
Property Tax -$627
Property Insurance -$59
HOA -$185
Property Management Fees -$140
CASH FLOW
-$495

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.

$635,000

PROJECTED PRICE

$2,860

PROJECTED RENT

0.45%

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$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,343

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,857

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $2.15

    LIST RENT PER SQFT
  • $2,859

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,8603$3,1004$3,500
$3,500
RENT COMPS ANALYSIS
  • 7274 Rosemarie Lane Huntington Beach, 2
    • 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $2.15
    •  
  • 18590 Cork Street Fountain Valley, 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2019
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.17
    •  
  • 19146 Alexa Lane Huntington Beach, 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2007
    LEASED 04/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.07
    •  
  • 19032 Delaware Street Huntington Beach, 4
    • 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2006
    LEASED 04/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.20
    •  
PROPERTY LISTING DETAILS
Tung Nguyen
Tung Nguyen
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20172300
Last Updated: 08/24/2020
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