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9301 Neolani Drive Huntington Beach, CA 92646

4 Beds 2 Baths 1,380 sqft Built 1967

INVESTimate

$925,000

List Price

$3,420

$3,170 - $3,670

Rent Est.

$974,765  ( +5.38%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1967
  • Price/Sqft : $670.29
  • 22 Days on Market
  • MLS # : OC20157118
  • Updated Date : 08/24/2020 at 09:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Amazing 4 bedroom, 2 bathroom home located 1 mile away from Huntington State Beach. This 6,039 sqft lot home is an entertainer’s home; featuring beautifully landscaped/paved backyard with outdoor TV panel connects, surround sound speakers, above ground spa, and 380 sq ft permitted Lanai with roller shades on all sides. Upon entering through the front dutch door, you will notice an abundance of natural light, engineered hardwood flooring, and surround sound speakers in living room. Down the hall you will find a main floor master suite and additional bedroom with a custom built in desk. The master suite has private en suite w/ hallway accessed via a separate door. The bright and roomy kitchen is adjoined to the living room with ceramic tile flooring, ample cabinet space, and stainless steel dishwasher, refrigerator, wine cooler, microwave, and 5 burner gas range/oven. The attached finished/carpeted garage has washer/gas dryer hookup with stackable washer/dryer INCLUDED, and can be accessed through the kitchen patio door. 250 sq ft workshop off the garage. Second level consists of 2 bedrooms, linen cabinets, and full bathroom. All bathrooms have earth toned ceramic walls w/ shower niche. Other features of the home include 2 large TUFF sheds w/ electrical outlets, dual thermostat, recessed lighting, lemon/lime, orange, and plumeria orchards. Amazing schools in area within walking distance are Eader Elementary, Sowers Middle School, and Edison High School. Quiet and tranquil area.

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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)
  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

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
John H. Eader Elementary School Primary Regular 582 21 9
Isaac L. Sowers Middle School Middle Regular 1,205 38 9
Edison High School High Regular 2,560 107 9

John H. Eader Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 21
9
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
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$3,413
Property Tax -$914
Property Insurance -$60
Property Management Fees -$168
CASH FLOW
-$1,135

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.

$925,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.38%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $2.48

    LIST RENT PER SQFT
  • $3,074

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,3453$3,4004$3,4205$3,600
$3,600
RENT COMPS ANALYSIS
  • 9301 Neolani Drive Huntington Beach, 4
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $2.48
    •  
  • 8646 Butte Circle Huntington Beach, 1
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1977
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.10
    •  
  • 9621 Erskine Drive Huntington Beach, 2
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1971
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,345
    • $2.20
    •  
  • 9411 Castlegate Drive Huntington Beach, 3
    • 4 beds 1 baths ∙ 1,493 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,493 Sqft ∙ Built 1971
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.28
    •  
  • 9291 Westcliff Dr Huntington Beach, 5
    • 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 1971
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.33
    •  
PROPERTY LISTING DETAILS
Elizabeth Do
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20157118
Last Updated: 08/24/2020
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