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7312 Waterside Drive Huntington Beach, CA 92648

4 Beds 3 Baths 2,391 sqft Built 1973

$995,000

List Price

$4,500

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $416.14
  • 5 Days on Market
  • MLS # : OC20250355
  • Updated Date : 12/04/2020 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,391 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

This unique home tucked away in a quiet, interior location of the highly desirable Beachwalk community offers one of the most sought after floor plans in the community and sits less than a mile from the sand! The home features a wonderful indoor-outdoor feel with the enclosed front patio and spacious, private backyard with newly installed artificial turf, offering a great space to entertain family and friends. On the lower level you'll find the open living room with sliders leading to your private backyard, as well as a formal dining area just off the kitchen. The second level hosts two guest bedrooms with a full bathroom in the hallway, and the master bedroom overlooking the backyard with an attached bathroom with a walk-in closet. Undeniably one of the best features of the home is the palatial bonus room on the second level just over the garage. This room has been modified from the original floor plan by enclosing the bridge to add square footage, making it the ideal entertaining room, home office, or even a bedroom. Situated less than half a mile from the sand and located in one of the most desirable ocean-close communities of Huntington Beach, this stunning Beachwalk home is a must-see.

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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: Beachwalk

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Beachwalk

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19243831

* 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
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$4,050$4,950$4,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,500
EXPENSES Loan Payment -$3,671
Property Tax -$983
Property Insurance -$85
HOA -$427
Property Management Fees -$221
CASH FLOW
-$886

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$995,000

PROJECTED PRICE

$4,500

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$8,978

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,500

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $4,519

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,5003$4,5004$4,7005$4,900
$4,900
RENT COMPS ANALYSIS
  • 7312 Waterside Drive Huntington Beach, CA 3
    • 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.88
    •  
  • 19718 Seashore Circle Huntington Beach, CA 1
    • 5 beds 2 baths ∙ 2,471 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,471 Sqft ∙ Built 1973
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.62
    •  
  • 611 9th Street Huntington Beach, CA 2
    • 3 beds 1 baths ∙ 2,377 Sqft ∙ Built 1979 3 beds 1 baths ∙ 2,377 Sqft ∙ Built 1979
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.89
    •  
  • 501 21st Street Huntington Beach, CA 4
    • 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.98
    •  
  • 628 22nd Street Huntington Beach, CA 5
    • 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990 3 beds 4 baths ∙ 2,369 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.07
    •  
PROPERTY LISTING DETAILS
Jody Clegg
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20250355
Last Updated: 12/04/2020
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