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8402 Gilford Circle Huntington Beach, CA 92646

5 Beds 3 Baths 2,955 sqft Built 1962

$1,149,000

List Price

$4,440

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $388.83
  • 7 Days on Market
  • MLS # : OC21014713
  • Updated Date : 01/29/2021 at 11:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,955 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Welcome to this beautifully established neighborhood just a few miles from the beach. This unique detached home boasts far more room than typical for the neighborhood. The owners of 40 years thoughtfully added 4 bedrooms upstairs, built a bonus room downstairs, added a family room and kept a bedroom and a full bathroom downstairs. The inviting kitchen is complete with a breakfast nook, a lovely coroner window, plenty of cabinet space, and stainless steel appliances, including a Viking freestanding oven. This home also features ample living and entertaining space with a living room offering built-ins, a family room, bonus room and formal dining room with french doors leading to the back yard. The primary bedroom features gorgeous vaulted ceiling, a balcony and an en suite with 2 closets and dual vanities. Every bedroom upstairs has something special: a balcony, corner windows or plantation shutters. Downstairs large windows provide natural light and a great view of the custom sparkling pool & spa with a waterfall feature. The backyard is a retreat of its own with nooks for tables and lounges surrounded by carefully cared for mature plants and trees. This home welcomes you to Huntington Beach living!

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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
Joseph R. Perry Elementary School Primary Regular 468 19 6
Ethel Dwyer Middle School Middle Regular 1,243 43 8
Huntington Beach Adult School High Magnet 2,939 103 9

Joseph R. Perry Elementary School

  • Education Level: Primary
  • # of students: 468
  • # of teachers: 19
6
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
 

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$3,996$4,884$4,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,440
EXPENSES Loan Payment -$3,991
Property Tax -$1,135
Property Insurance -$98
Property Management Fees -$218
CASH FLOW
-$1,002

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.

$1,149,000

PROJECTED PRICE

$4,440

PROJECTED RENT

0.39%

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$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,991

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$10,964

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,440

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $4,403

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$3,700
1$3,7002$4,0003$4,2004$4,4405$4,500
$4,500
RENT COMPS ANALYSIS
  • 8402 Gilford Circle Huntington Beach, CA 4
    • 5 beds 3 baths ∙ 2,955 Sqft ∙ Built 1962 5 beds 3 baths ∙ 2,955 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $4,440
    • $1.50
    •  
  • 8552 Boise Drive Huntington Beach, CA 1
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1976 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1976
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.38
    •  
  • 9322 Flicker Avenue Fountain Valley, CA 2
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1971
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.53
    •  
  • 19552 Helena Circle Huntington Beach, CA 3
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1973
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.56
    •  
  • 19382 Weymouth Lane Huntington Beach, CA 5
    • 4 beds 3 baths ∙ 3,012 Sqft ∙ Built 1966 4 beds 3 baths ∙ 3,012 Sqft ∙ Built 1966
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.49
    •  
PROPERTY LISTING DETAILS
Beth Mccloskey
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014713
Last Updated: 01/29/2021
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