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8431 El Arroyo Drive #147 Huntington Beach, CA 92647

3 Beds 3 Baths 1,048 sqft Built 1971

$549,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $524.71
  • 2 Days on Market
  • MLS # : PW21004948
  • Updated Date : 01/09/2021 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,048 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team -corporate Office

Listing Agent's Description

This beautifully coveted Bayshore gem is not available very often. You will not believe the extra love this homeowner put into making this amazing home a modern dream. This home caters to the modern conveniences that you are sure to appreciate. It has an open floor-plan is perfect for entertaining. Wait until you see this picture-perfect new kitchen, complete with new custom cabinetry and expressly imported stone counters, and unique designer floors. The stainless steel appliances are all brand new and include, a dishwasher, range, hood, and microwave. The big, bright, windows make this living space feel massive. Cozy up under the high efficiency, lighting. You will love the custom fresh paint, vinyl plank flooring, two-panel doors, and bright rooms throughout. Both bathrooms have also been remodeled with designer extras and new cabinetry. The large private patio is perfect for entertaining. Bayshore is one of HB's Premier Neighborhoods, Close to Shopping, Dining, Beach, Theaters, Excellent Schools, and Easy Freeway Access.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,910
Property Tax -$555
Property Insurance -$52
HOA -$245
Property Management Fees -$119
CASH FLOW
-$461

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.

$549,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,290

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $2.31

    LIST RENT PER SQFT
  • $2,397

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2953$2,4204$2,9955$3,100
$3,100
RENT COMPS ANALYSIS
  • 8431 El Arroyo Drive Huntington Beach, CA 3
    • 3 beds 3 baths ∙ 1,048 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,048 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $2.31
    •  
  • 8375 Benjamin Drive Huntington Beach, CA 1
    • 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1971
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $2.09
    •  
  • 17824 La Costa Lane Huntington Beach, CA 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1973
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $2.30
    •  
  • 8221 Friesland Drive Huntington Beach, CA 4
    • 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,232 Sqft ∙ Built 1963
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.43
    •  
  • 8361 Edam Circle Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1961
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.33
    •  
PROPERTY LISTING DETAILS
Ryan Meltcher
First Team -corporate Office
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21004948
Last Updated: 01/09/2021
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