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8312 Friesland Drive Huntington Beach, CA 92647

3 Beds 2 Baths 1,232 sqft Built 1963

$815,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $661.53
  • 3 Days on Market
  • MLS # : OC21009569
  • Updated Date : 01/16/2021 at 13:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 2 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Welcome to 8312 Friesland Drive. This gorgeously remodeled, energy efficient home is nestled in the quiet neighborhood of Dutch Haven. The lush green hedges provide excellent privacy, perfect for the kids or pets and adds to its magnificent curb appeal. This alluring home has been remodeled in and out! From the flooring to the brand new roof, this home is guaranteed to weather any storm. Entertain your guests in the spacious backyard with new patio foundation and covering, a perfect place to hang out with the family or just watch the grass grow. This home bodes a faux corner lot with no rear neighbors and is a perfect place to raise a family or live the good life in Huntington Beach. Conviently located to Bella Terra and the 405 freeway, the superb location is something to desire.

SEE MORE

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: Newland

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $212k831k

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

Neighborhood: Newland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q216001800200022002400260028003000320034003600Rent in $15813620

* 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
Lake View Elementary School Primary Regular 312 14 6
Vista View Middle School Middle Regular 698 30 7
Ocean View High School High Magnet 1,549 58 5

Lake View Elementary School

  • Education Level: Primary
  • # of students: 312
  • # of teachers: 14
6
GreatSchools Rating

Vista View Middle School

  • Education Level: Middle
  • # of students: 698
  • # of teachers: 30
7
GreatSchools Rating

Ocean View High School

  • Education Level: High
  • # of students: 1,549
  • # of teachers: 58
5
GreatSchools Rating
 

$733,500$896,500$815,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,831
Property Tax -$823
Property Insurance -$57
Property Management Fees -$143
CASH FLOW
-$943

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$815,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$221,725

INVESTMENT

$221,725

Down Payment
$203,750
Rehab Estimate
$5,750
Closing Costs
$12,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,831

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $203,750
Loan Amount $611,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $2.36

    LIST RENT PER SQFT
  • $2,908

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,910
1$2,9102$2,9953$3,0004$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 8312 Friesland Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $2.36
    •  
  • 8221 Friesland Drive Huntington Beach, CA 2
    • 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.43
    •  
  • 8420 Drey Road Westminster, CA 3
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1960
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.37
    •  
  • 8361 Edam Circle Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.33
    •  
  • 9085 La Luna Avenue Fountain Valley, CA 5
    • 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1963
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.31
    •  
PROPERTY LISTING DETAILS
Sean Holford
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21009569
Last Updated: 01/16/2021
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