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7857 Orchid Drive Huntington Beach, CA 92648

4 Beds 3 Baths 2,208 sqft Built 1997

$1,099,000

List Price

$4,220

$4K - $4.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $497.74
  • 9 Days on Market
  • MLS # : OC20262906
  • Updated Date : 12/31/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,208 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sharp Homes

Listing Agent's Description

Click the virtual tour! This is a stunning detached house with 4 bedrooms plus a loft! The loft can be a 5th bedroom or office. Custom upgrades to note are the remodeled kitchen/bathrooms with gorgeous Cambria Quartz counters, custom Shaker cabinets, center island, tons of extra storage, Thermador and Bosch appliances including a built-in refrigerator, wine cooler, and gas stove. You will notice the beautiful 4 ft. Porcelain tile that resembles white-washed wood which greets you at the front door and carries you throughout the downstairs. The vaulted ceilings are impressive and they are paired with 9 ft. high ceilings throughout. Notice the fantastic architectural details such as the stepped ceiling in the master along with dual paned windows perfectly placed to catch the sunlight and gently cast it across the home plus a large master suite with a walk-in closet, oval tub, and separate shower! The laundry room is conveniently located on the upper level! This is central A/C and heat + multiple Smart Home devices (Nest Thermostat, Ring doorbell, myQ garage door opener, and Lutron lighting). You'll enjoy the HUGE backyard area, new patio cover, integrated lighting, and shed for additional storage located off the family room for easy entertaining. The Popular Parkside Classic Community is a close-knit neighborhood offering ocean breezes, a pool/spa area, and it is located close to shopping, great schools, and excellent access to Downtown HB, Pacific City, and the beach!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Hope View Elementary School Primary Regular 677 24 9
Mesa View Middle School Middle Magnet 806 34 9
Ocean View High School High Magnet 1,549 58 5

Hope View Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 24
9
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
 

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$3,798$4,642$4,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,220
EXPENSES Loan Payment -$4,055
Property Tax -$1,147
Property Insurance -$80
HOA -$100
Property Management Fees -$207
CASH FLOW
-$1,369

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.

$1,099,000

PROJECTED PRICE

$4,220

PROJECTED RENT

0.38%

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-$20k-$10k$0.0$10k$20k

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$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,220

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $4,195

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$3,8003$4,1004$4,2205$4,600
$4,600
RENT COMPS ANALYSIS
  • 7857 Orchid Drive Huntington Beach, CA 4
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $4,220
    • $1.91
    •  
  • 7676 Park Bay Drive Huntington Beach, CA 1
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1999
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.85
    •  
  • 18186 Sharon Lane Huntington Beach, CA 2
    • 4 beds 3 baths ∙ 2,087 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,087 Sqft ∙ Built 1979
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.82
    •  
  • 18691 Stratton Lane Huntington Beach, CA 3
    • 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 1997
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.00
    •  
  • 18637 Ambrose Lane Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1998
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $1.93
    •  
PROPERTY LISTING DETAILS
Quinten Sharp
Sharp Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20262906
Last Updated: 12/31/2020
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