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7722 Everest Circle Huntington Beach, CA 92647

3 Beds 2 Baths 1,310 sqft Built 1963

$739,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $564.12
  • 4 Days on Market
  • MLS # : OC21045000
  • Updated Date : 03/05/2021 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,310 sqft
  • Baths : 2 full
Listing Agent

Re/max Select One

Listing Agent's Description

This is the lowest priced home in HB and it is quietly situated at the end of a cul-de-sac while offering many nice features including; A newer oven and cook-top in the kitchen, a coffered ceiling and a fireplace in the living room, sliding doors leading to the rear yard from 2 of the bedrooms and the living room, dual pane windows throughout, textured ceilings, panel doors, an updated forced air heater and air conditioning, inside laundry, a built-in bbq on the West facing side yard, tiled rear and side patio's, block wall fencing, a full sized RV pad + a sunny South facing rear yard with tons of potential. This affordable home is also close to shopping, restaurants, several parks and the Bella Terra Mall + less than a 10 minute drive to the beach! 3D Virtual Tour https://my.matterport.com/show/?m=FxNKwQjLaAa&mls=1&ts=2

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Clegg Elementary School Primary Regular 558 23 8
Helen Stacey Middle School Middle Regular 907 39 8
Westminster High School High Magnet 2,688 102 7

Clegg Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 23
8
GreatSchools Rating

Helen Stacey Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 39
8
GreatSchools Rating

Westminster High School

  • Education Level: High
  • # of students: 2,688
  • # of teachers: 102
7
GreatSchools Rating
 

$665,100$812,900$739,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,567
Property Tax -$748
Property Insurance -$59
Property Management Fees -$147
CASH FLOW
-$511

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.

$739,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,585

INVESTMENT

$201,585

Down Payment
$184,750
Rehab Estimate
$5,750
Closing Costs
$11,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,567

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,750
Loan Amount $554,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$12,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $3,029

    COMP ESTIMATED VALUE
  • $2.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,0104$3,3805$3,400
$3,400
RENT COMPS ANALYSIS
  • 7722 Everest Circle Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $2.30
    •  
  • 7061 Sowell Avenue Westminster, CA 1
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1959
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.19
    •  
  • 6942 Oxford Drive Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1962
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.35
    •  
  • 6902 Cumberland Drive Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,382 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,382 Sqft ∙ Built 1962
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,380
    • $2.45
    •  
  • 6972 Dresden Circle Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,504 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,504 Sqft ∙ Built 1962
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.26
    •  
PROPERTY LISTING DETAILS
Randolph Aguilar
Re/max Select One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21045000
Last Updated: 03/05/2021
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