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8611 Martinique Drive Huntington Beach, CA 92646

4 Beds 2 Baths 1,779 sqft Built 1967

$1,025,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $576.17
  • 6 Days on Market
  • MLS # : OC20249230
  • Updated Date : 12/01/2020 at 21:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Huntington Beach Realty Inc

Listing Agent's Description

This beach-close 4 Bedroom, 2 Bath, 1779sf South-facing Seabury Tract single family home on a 6,005sf lot with a 2-car garage and a front courtyard for sunsets & relaxation is now available! Amenities include updated kitchen with quality cabinets & granite countertops, updated features in both bathrooms, fully paid rooftop solar system that saves you in monthly utility costs, an enlarged master bedroom that features a double door to front patio & a walk-in closet, and a master bath with custom-built shower & tropical-etched glass. The room addition provides a "flex-room", which can serve as a home office, exercise room, game room for the kids or whatever you choose! More information and photos to come soon!

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
 

$922,500$1,127,500$1,025,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$3,782
Property Tax -$1,013
Property Insurance -$70
Property Management Fees -$179
CASH FLOW
-$1,384

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.

$1,025,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$277,375

INVESTMENT

$277,375

Down Payment
$256,250
Rehab Estimate
$5,750
Closing Costs
$15,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $256,250
Loan Amount $768,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $2.06

    LIST RENT PER SQFT
  • $3,643

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3003$3,5004$3,6605$4,295
$4,295
RENT COMPS ANALYSIS
  • 8611 Martinique Drive Huntington Beach, CA 4
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $2.06
    •  
  • 20692 Kelvin Lane Huntington Beach, CA 1
    • 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,606 Sqft ∙ Built 1966
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.99
    •  
  • 9132 Browning Drive Huntington Beach, CA 2
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1969
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.96
    •  
  • 21351 Sand Dollar Lane Huntington Beach, CA 3
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 1969
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.01
    •  
  • 9121 Mahalo Drive Huntington Beach, CA 5
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1965
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $2.23
    •  
PROPERTY LISTING DETAILS
Steven Rakhshani
Huntington Beach Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20249230
Last Updated: 12/01/2020
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