Analysis done using IrvineHousingblog.com
RentVsOwnulator™ read about calculator here: http://orangecountycaliforniarealestate.blogspot.com/2008/11/introducing-irvine-housing-blog-rent-vs.html
City: Huntington Beach
Asking Price: $255,000
Downpayment needed: $1650-$51,000 (used $51,000 for calculations)
Interest rate 6%
Number of years 30 year fixed fully amortized
Property tax and
special taxes/levies (estimated) 1.25%
HOA: $188
Maintenance and replacement
reserves 1%= $212.50/month
Income Requirement: $65,000
Total Cost of ownership= $1643.63
Rent comps estimated= $1800/month
Reverse calculation $1800/month rent
Estimated ownership costs 18%
Estimated purchase price $291,899
Estimated down payment $58,380
Estimated loan $233,519.17
Address: Contact Shevy Akason at 949-769-1599
Beds: 2
Baths: 2
Sq. Ft.: 860 square feet
$/Sq. Ft.: $296.51
Lot Size: 640
Year Built: 1963
Stories: 2
Listing agents description:
PRICE REDUCED TO SELL FAST! Great opportunity! Tile floors in living room and kitchen. Laminate floor in upstairs bedrooms and hallway. Appliances include stove, microwave, refrigerator, washer and dryer. Close to shopping, schools. Cool ocean breezes - less than 2 miles to the beach!
Shevy's analysis: I have not had an opprotunity to preview this home, however, it appears to be in a good location in the track walking distance to the community pool and hot tub. This home could use between $10,000- $20,000 in upgrades to modernize it. However, this property could make an excellent lease for an investor looking to purchase for the long term using a 30 year fixed fully ammortized loan or for a first time homebuyer that wants to live in the wonderful city of Huntington Beach.
RentVsOwnulator™ read about calculator here: http://orangecountycaliforniarealestate.blogspot.com/2008/11/introducing-irvine-housing-blog-rent-vs.html
City: Huntington Beach
Asking Price: $255,000
Downpayment needed: $1650-$51,000 (used $51,000 for calculations)
Interest rate 6%
Number of years 30 year fixed fully amortized
Property tax and
special taxes/levies (estimated) 1.25%
HOA: $188
Maintenance and replacement
reserves 1%= $212.50/month
Income Requirement: $65,000
Total Cost of ownership= $1643.63
Rent comps estimated= $1800/month
Reverse calculation $1800/month rent
Estimated ownership costs 18%
Estimated purchase price $291,899
Estimated down payment $58,380
Estimated loan $233,519.17
Address: Contact Shevy Akason at 949-769-1599
Beds: 2
Baths: 2
Sq. Ft.: 860 square feet
$/Sq. Ft.: $296.51
Lot Size: 640
Year Built: 1963
Stories: 2
Listing agents description:
PRICE REDUCED TO SELL FAST! Great opportunity! Tile floors in living room and kitchen. Laminate floor in upstairs bedrooms and hallway. Appliances include stove, microwave, refrigerator, washer and dryer. Close to shopping, schools. Cool ocean breezes - less than 2 miles to the beach!
Shevy's analysis: I have not had an opprotunity to preview this home, however, it appears to be in a good location in the track walking distance to the community pool and hot tub. This home could use between $10,000- $20,000 in upgrades to modernize it. However, this property could make an excellent lease for an investor looking to purchase for the long term using a 30 year fixed fully ammortized loan or for a first time homebuyer that wants to live in the wonderful city of Huntington Beach.
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I'm new with blogging, however, comments will only be posted if commentor is registered--- I'm trying to fix this.
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