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8681 Salem Circle Huntington Beach, CA 92647

3 Beds 2 Baths 1,480 sqft Built 1960

$800,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $540.54
  • 3 Days on Market
  • MLS # : OC21014514
  • Updated Date : 01/22/2021 at 18:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Kasey Hendley, Broker

Listing Agent's Description

Single level, cul de sac location, private pool, open floor plan, 3 bedrooms and 2 bathrooms, and a large bonus room with double door entry. Cozy Fireplace in living room. Two car garage, and large driveway for boat, RV or additional cars. NO HOA!

SEE MORE

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: 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
Westmont Elementary School Primary Regular 351 16 4
Vista View Middle School Middle Regular 698 30 7
Ocean View High School High Magnet 1,549 58 5

Westmont Elementary School

  • Education Level: Primary
  • # of students: 351
  • # of teachers: 16
4
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
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$2,779
Property Tax -$808
Property Insurance -$63
Property Management Fees -$159
CASH FLOW
-$558

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.

$800,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$13,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $3,393

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,2504$3,3005$3,700
$3,700
RENT COMPS ANALYSIS
  • 8681 Salem Circle Huntington Beach, CA 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.20
    •  
  • 17633 Santa Paula Street Fountain Valley, CA 1
    • 4 beds 2 baths ∙ 1,442 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,442 Sqft ∙ Built 1964
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.08
    •  
  • 8361 Edam Circle Huntington Beach, CA 2
    • 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
    •  
  • 9085 La Luna Avenue Fountain Valley, CA 4
    • 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1963
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.31
    •  
  • 16782 Scotsdale Circle Huntington Beach, CA 5
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1965
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.45
    •  
PROPERTY LISTING DETAILS
Kasey Hendley
Kasey Hendley, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014514
Last Updated: 01/22/2021
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