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3040 E Poppy Street Long Beach, CA 90805

3 Beds 1 Baths 1,134 sqft Built 1954

$569,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $501.76
  • 5 Days on Market
  • MLS # : PW21046284
  • Updated Date : 03/17/2021 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California

Listing Agent's Description

CHARMING 3 bed, 1 bath very clean home, with beautiful red oak flooring, cozy fireplace in the living room, and newer windows. Partially remodeled kitchen with quartz counters, stainless steel appliances, newer kitchen floor tiling. Bathroom includes updated tile floor. Spacious backyard with covered patio and fruit tree. Detached 2 car garage and driveway for additional parking. Conveniently located to the 91 fwy and nearby Lakewood Shopping Center. Home is very well maintained and well cared for, you won't want to miss this one!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (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 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)
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Saint Francis

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $176k622k

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

Neighborhood: Saint Francis

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13712941

* 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
Collins Elementary School Primary Regular 580 22 3
Paramount High School - Senior Campus High Regular 4,814 174 4
Buena Vista High School High Unknown NA

Collins Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 22
3
GreatSchools Rating

Paramount High School - Senior Campus

  • Education Level: High
  • # of students: 4,814
  • # of teachers: 174
4
GreatSchools Rating

Buena Vista High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$512,100$625,900$569,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,976
Property Tax -$617
Property Insurance -$55
Property Management Fees -$124
CASH FLOW
-$232

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.

$569,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$22,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $2,639

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,540
1$2,5402$2,6753$2,6954$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 3040 E Poppy Street Long Beach, CA 1
    • 3 beds 1 baths ∙ 1,134 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,134 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $2.24
    •  
  • 5222 Obispo Avenue Lakewood, CA 2
    • 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,165 Sqft ∙ Built 1952
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $2.30
    •  
  • 5812 Hayter Avenue Lakewood, CA 3
    • 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1947
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $2.34
    •  
  • 5953 Castana Avenue Lakewood, CA 4
    • 3 beds 1 baths ∙ 1,188 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,188 Sqft ∙ Built 1947
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.31
    •  
  • 4123 Ashworth Street Lakewood, CA 5
    • 3 beds 1 baths ∙ 1,188 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,188 Sqft ∙ Built 1947
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.36
    •  
PROPERTY LISTING DETAILS
Kevin Kim
Exp Realty Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21046284
Last Updated: 03/17/2021
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