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216 N Poplar Street Orange, CA 92868

3 Beds 2 Baths 1,231 sqft Built 1968

$669,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $543.46
  • 5 Days on Market
  • MLS # : NP20202619
  • Updated Date : 10/30/2020 at 17:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,231 sqft
  • Baths : 2 full
Listing Agent

Sur West Homes

Listing Agent's Description

Completely renovated from top to bottom! New kitchen, bathrooms, flooring, lighting and landscaping. Absolutely outstanding custom kitchen with quality cabinetry including multiple glass fronts with interior display lighting, reclaimed wood shelves, stainless appliances with a gas cooktop, an oversized butcher block island, quartz counter tops and modern lighting with brass accents for that crisp distinct feel! The experience continues as you take in the warm laminate wood floors, bright white walls, recessed lighting throughout and new paneled doors. The 2 bathrooms each have new vanities, contemporary accent tile and low maintenance quartz countertops. The secondary bathroom has the always necessary tub/shower combo. Both the front and backyard are freshly landscaped with new sod and ready for weekend hangouts and BBQs. The master closet has built in storage. This is a the best of "good things come in small packages" You will not be disappointed with 216 N. Poplar!

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 92868

ZipNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700kPrice in $194k742k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 92868

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2160018002000220024002600280030003200Rent in $15763345

* 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
Sycamore Elementary School Primary Regular 443 16 4
Sycamore Elementary School Middle Regular 443 16 4
Orange High School High Regular 1,927 79 4

Sycamore Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 16
4
GreatSchools Rating

Sycamore Elementary School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 16
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 79
4
GreatSchools Rating
 

$602,100$735,900$669,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,468
Property Tax -$655
Property Insurance -$56
Property Management Fees -$127
CASH FLOW
-$707

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.

$669,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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

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$183,035

INVESTMENT

$183,035

Down Payment
$167,250
Rehab Estimate
$5,750
Closing Costs
$10,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,250
Loan Amount $501,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $2.11

    LIST RENT PER SQFT
  • $2,588

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6953$2,7004$2,7505$2,850
$2,850
RENT COMPS ANALYSIS
  • 216 N Poplar Street Orange, CA 1
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.11
    •  
  • 1910 W Palmyra Avenue Orange, CA 2
    • 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,359 Sqft ∙ Built 1973
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.98
    •  
  • 1910 W Palmyra Avenue Orange, CA 3
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1977
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.99
    •  
  • 404 S Plum Lane Orange, CA 4
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1958
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.40
    •  
  • 376 N Batavia Street Orange, CA 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1954
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.04
    •  
PROPERTY LISTING DETAILS
Erin Casey
Sur West Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20202619
Last Updated: 10/30/2020
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