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8422 Millbridge Circle Huntington Beach, CA 92646

4 Beds 2 Baths 1,466 sqft Built 1972

$797,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $543.66
  • 4 Days on Market
  • MLS # : OC20242463
  • Updated Date : 11/19/2020 at 17:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Amcpm

Listing Agent's Description

Mostly original house on a cul-de-sac. Rarely available. Prime South HB neighborhood. Walk to the park around the corner.

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: 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
 

$717,300$876,700$797,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,941
Property Tax -$787
Property Insurance -$63
Property Management Fees -$167
CASH FLOW
-$557

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.

$797,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.43%

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$216,955

INVESTMENT

$216,955

Down Payment
$199,250
Rehab Estimate
$5,750
Closing Costs
$11,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,250
Loan Amount $597,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$17,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $3,350

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,3953$3,4004$3,5005$3,595
$3,595
RENT COMPS ANALYSIS
  • 8422 Millbridge Circle Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.32
    •  
  • 20385 Fee Lane Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 1971
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.11
    •  
  • 20192 Cape Cottage Lane Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1972
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $2.41
    •  
  • 19562 Topeka Lane Huntington Beach, CA 4
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1974
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.25
    •  
  • 1320 Lakeside Lane Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,595
    • $2.37
    •  
PROPERTY LISTING DETAILS
Joshua Campbell
Amcpm
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20242463
Last Updated: 11/19/2020
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