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PROPERTY INFO
FACTS
- Single Family
- Built In 1971
- Price/Sqft : $523.85
- 2 Days on Market
- MLS # : NP21015358
- Updated Date : 01/23/2021 at 21:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,048 sqft
- Baths : 1 full , 1 half
Listing Agent
Calwest Properties
Listing Agent's Description
Newly remodeled -- move-in ready! This beautiful and modern 3-bedroom, 1.5 bath, condo is located four miles from the beach and is ready to enjoy. Recently updated, this two-story home is well located within the community and is an end-unit having only one shared wall. The large windows provide lots of natural light and a nice ocean breeze. The downstairs offers an open floor plan, a dining nook and an updated half bathroom. In addition, there is new luxury vinyl plank flooring, a beautifully refinished staircase, recessed lighting, as well as new Milgard windows and patio slider door. The remodeled kitchen has quartz countertops, a pantry, and a coffee nook, all of which provide plenty of storage. The laundry room is conveniently located right off the kitchen and there is also a spacious closet. The upstairs features two bright bedrooms and a large master bedroom. The upstairs full bathroom is unique within the community having been expanded to allow for a larger vanity. The private patio is perfect for relaxing and allows for easy access to parking and the nearby assigned covered carport with large secured storage. The tranquil Bayshore community has a large community pool and clubhouse with plenty of parking for you and your guests. The low HOA dues cover exterior maintenance, water, and trash. Don't miss out on this gorgeous remolded end unit just minutes from the beach, shopping, and entertainment!
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MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Newland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,400 |
| EXPENSES | Loan Payment | -$1,907 |
| Property Tax | -$554 | |
| Property Insurance | -$52 | |
| HOA | -$245 | |
| Property Management Fees | -$118 | |
|
CASH FLOW
-$476
|
||
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.
$549,000
PROJECTED PRICE
$2,400
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,235
LOAN DETAILS
$1,907
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,250 |
| Loan Amount | $411,750 |
1.67
YEARS SAVED
$5,635
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$2.29
LIST RENT PER SQFT
-
$2,397
COMP ESTIMATED VALUE -
$2.29
COMP AVG. RENT PER SQFT
Comps Range
-
8477 Benjamin Drive Huntington Beach, CA 3
- 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1971
- Rent
- Rent Per SQFT
- $2,400
- $2.29
-
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
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
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
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
LEASED 06/27/20- Rent
- Rent Per SQFT
- $3,100
- $2.33
PROPERTY LISTING DETAILS
Calwest Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NP21015358
Last Updated: 01/23/2021
