Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2524 Poplar Lane Costa Mesa, CA 92627

3 Beds 3 Baths 1,495 sqft Built 1980

$749,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $501.00
  • 7 Days on Market
  • MLS # : OC21010668
  • Updated Date : 01/20/2021 at 14:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,495 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to the gated community of Laurel Point. Located in the highly desirable East Side of Costa Mesa with its premier schools and convenience to freeways, John Wayne Airport, restaurants and shopping. 2524 Poplar offers a renovated 3 bedroom, 2.5 bath floor plan with excellent outdoor entertaining space and 2 car attached garage. Upon entry, you are greeted by solid wood floors, scraped ceilings and recessed lighting. Your spacious family room with wood burning fireplace, has sliding glass doors that create a seamless flow to the secluded rear yard and patio area. Designer finishes define your remodeled kitchen featuring, custom white cabinetry, stainless steel appliances, granite countertops and a delightful bay window. A half bath down accommodates your guests. Vaulted ceilings and black mirrored closet doors highlight the deluxe master bedroom with a private balcony. Your recently renovated chic master bathroom has a massive glass enclosed shower and dual vanity. Two additional guest bedrooms up, both with vaulted ceilings and great closet space, share a completely remodeled second full bathroom. An individual laundry room on the second floor is a rare find. Your two car garage has plenty of storage and is equipped with an electric car charging station.

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: Eastside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $272k1225k

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

Neighborhood: Eastside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813867

* 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
Kaiser Elementary School Primary Regular 681 23 8
Ensign Intermediate School Middle Regular 1,173 42 8
Newport Harbor High School High Regular 2,355 82 8

Kaiser Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 23
8
GreatSchools Rating

Ensign Intermediate School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 42
8
GreatSchools Rating

Newport Harbor High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 82
8
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,602
Property Tax -$730
Property Insurance -$63
HOA -$330
Property Management Fees -$155
CASH FLOW
-$710

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.

$749,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $3,521

    COMP ESTIMATED VALUE
  • $2.36

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1703$3,2754$3,3005$3,650
$3,650
RENT COMPS ANALYSIS
  • 2524 Poplar Lane Costa Mesa, CA 2
    • 3 beds 3 baths ∙ 1,495 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,495 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $2.12
    •  
  • 2615 Elden Costa Mesa, CA 1
    • 3 beds 3 baths ∙ 1,356 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,356 Sqft ∙ Built 1982
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.21
    •  
  • 2547 Orange Avenue Costa Mesa, CA 3
    • 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,593 Sqft ∙ Built 1991
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $2.06
    •  
  • 2330 Vanguard Way Costa Mesa, CA 4
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1985
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.51
    •  
  • 2516 Elden Avenue Costa Mesa, CA 5
    • 3 beds 3 baths ∙ 1,382 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,382 Sqft ∙ Built 1980
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.64
    •  
PROPERTY LISTING DETAILS
Brian Wollner
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21010668
Last Updated: 01/20/2021
BESbswy