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8215 Ridgefield Huntington Beach, CA 92646

3 Beds 2 Baths 1,296 sqft Built 1964

$725,000

List Price

$3,480

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $559.41
  • 3 Days on Market
  • MLS # : PW21021184
  • Updated Date : 03/20/2021 at 08:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 1 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Whether you're on the hunt for your next home or even a vacation residence, this Huntington Beach townhouse in the Surfside Homes by the Sea community might be exactly what you’re looking for! Simple and serene, this home offers a large front porch that’s perfect for mingling with the neighbors. Neutral color tones inside paired with hardwood-style floors create a modern and welcoming ambiance. Entertain guests or cozy up in front of the brick fireplace in the living room that offers warmth while adding character to the space. The remodeled kitchen features stainless steel appliances, sleek granite countertops, custom wood cabinetry, and ample space to prep and cook your favorite dishes. All three bedrooms are just right in size. Glass doors lead you to the backyard where an outdoor patio is the perfect place to unwind after a long day at the beach. There's also a detached two-car garage for parking and storage. Plus, this comfortable home offers access to amenities such as a community clubhouse, playground, and swimming pools. Huntington Beach’s many restaurants and shops are minutes away for your enjoyment. Come take a tour of this dream beach abode to see what possibilities await you!

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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: Southeast Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Southeast Huntington Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19243821

* 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
S. A. Moffett Elementary School Primary Regular 573 21 10
Isaac L. Sowers Middle School Middle Regular 1,205 38 9
Edison High School High Regular 2,560 107 9

S. A. Moffett Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 21
10
GreatSchools Rating

Isaac L. Sowers Middle School

  • Education Level: Middle
  • # of students: 1,205
  • # of teachers: 38
9
GreatSchools Rating

Edison High School

  • Education Level: High
  • # of students: 2,560
  • # of teachers: 107
9
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$3,132$3,828$3,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,480
EXPENSES Loan Payment -$2,518
Property Tax -$716
Property Insurance -$71
HOA -$272
Property Management Fees -$171
CASH FLOW
-$268

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.

$725,000

PROJECTED PRICE

$3,480

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$22,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,480

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $4,101

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$3,480
1$3,4802$3,5003$3,5004$3,5005$4,000
$4,000
RENT COMPS ANALYSIS
  • 8215 Ridgefield Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $3,480
    • $1.90
    •  
  • 802 California Street Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1973
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.33
    •  
  • 21351 Sand Dollar Lane Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1969
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.01
    •  
  • 21126 Poolside Lane Huntington Beach, CA 4
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 1983
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.36
    •  
  • 20442 Seven Seas Lane Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1960
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.25
    •  
PROPERTY LISTING DETAILS
Kathryn Hampton
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21021184
Last Updated: 03/20/2021
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