Renovated Residential Income
New
For Sale
$149,900
1517 N Newhope Street 76, Santa Ana, CA 92703
Updated two-bedroom residence with in-home laundry, tandem parking, and a fenced turf area.
Property Size750 SF
Price / SF$199.87
Days on Market4
Property Features for 1517 N Newhope Street 76
General Information
Standard status
Active
Size
750 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Additional Details
Multifamily Units
1
Amenities
in-home laundry
custom closet built-ins
fenced turf area
Listing Agency:
PPF Realty
(949) 296-2500
Listed By:
Andrew Tapia · License #02190626
(714) 815-7091
Source:
Tfregroup
Added: Sep 5
Last Checked: Sep 8 at 9:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PPF Realty
Investment Insights
Based on property information with market context.
This 750-square-foot residential income property has been renovated with new flooring, fresh interior and exterior paint, and updated kitchen and bathroom areas. The two-bedroom layout includes in-home laundry, custom closet built-ins, and practical living space suited to a range of household needs. A fenced turf area adds a low-maintenance outdoor component, while two-car tandem parking provides dedicated on-site vehicle storage.
Located at 1517 N Newhope Street in Santa Ana, the property combines updated interior finishes with functional storage, parking, and outdoor space. The residence is presented as move-in ready, with no major project list identified in the property information.
Located at 1517 N Newhope Street in Santa Ana, the property combines updated interior finishes with functional storage, parking, and outdoor space. The residence is presented as move-in ready, with no major project list identified in the property information.
Key Highlights
- 750‑square‑foot renovated residence
- Two‑bedroom layout with flexible second‑room use
- Updated kitchen and bathroom areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,580
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$251,600
$251.6K
Cap Rate 7%
$179,714
$179.7K
Cap Rate 9%
$139,778
$139.8K
Market Conditions
NOI Build-Up for 750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.9K $31.80/SF
− Vacancy
−$978 −$1.30/SF
EGI
$22.9K $30.50/SF
− OpEx
−$10.3K −$13.72/SF
NOI
$12.6K $16.77/SF
Area
ZIP 92703
Vacancy
4.10%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$251,600
Cap Rate 7%
$179,714
Cap Rate 9%
$139,778
Alternative Uses
Best Use
Apartment 5plus
$179.7K
$157.3K – $209.7K
NOI $12,580 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.1K
$189.9K – $253.3K
NOI $15,195 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 92703, CA
65,621
Population
14,644
Households
4.5
Avg Household Size
34
Median Age
13%
College-Educated
60%
High-School Grad
4.2 sq mi
ZIP Area
15,624
Density / Sq Mi
$80,817
Median Household Income
$33,363
Median Earnings
$1,922
Median Rent
$585,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom residence with in-home laundry, tandem parking, and a fenced turf area.
Where is this residential income property located?
The property is located at 1517 N Newhope Street 76 Santa Ana, CA.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 750‑square‑foot renovated residence; Two‑bedroom layout with flexible second‑room use; Updated kitchen and bathroom areas
