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1036 Coconut Riverside, CA 92501

4 Beds 2 Baths 1,965 sqft Built 2019

$529,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $269.67
  • 3 Days on Market
  • MLS # : PW21019700
  • Updated Date : 01/29/2021 at 20:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,965 sqft
  • Baths : 2 full
Listing Agent

Kc Realty Group

Listing Agent's Description

Don’t miss out on a fantastic opportunity to own this gorgeous, upgraded, 4 bedroom, 2 bathroom home in Riverside! The home is meticulously maintained and cared for. The floor plan is open and spacious with the living room opening up to the kitchen. Gorgeous hardwood floors throughout and recessed lighting. The fully upgraded kitchen features granite counter tops with a large kitchen island providing extra counter space and dining. The appliances are state-of-the-art and well-appointed cabinetry with ample storage. The master bedroom is spacious and is accentuated by a conjoining bathroom and a large walk-in closet. All other bedrooms are spacious. Highlighting this home is the large backyard and this home comes with solar panels that are completely paid off! A must see!!

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MARKET HIGHLIGHTS

  • 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)
  • 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]
  • 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, Inland Empire market inherits all the benefits from the area.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $115k484k

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

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8912101

* 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
Central Middle School Middle Regular 713 31 3
John W. North High School High Regular 2,281 95 4
Central Middle School Middle Unknown NA

Central Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 31
3
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating

Central Middle School

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

$476,910$582,890$529,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,841
Property Tax -$519
Property Insurance -$75
HOA -$56
Property Management Fees -$142
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.

$529,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$14,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,378

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,4004$2,4455$2,650
$2,650
RENT COMPS ANALYSIS
  • 1036 Coconut Riverside, CA 3
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.22
    •  
  • 1911 Kenton Riverside, CA 1
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2007
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
  • 4550 Nicole Way Riverside, CA 2
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 1795 Yvonne Court Riverside, CA 4
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $1.19
    •  
  • 1688 Julia Way Riverside, CA 5
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.29
    •  
PROPERTY LISTING DETAILS
Katherine Candelaria
Kc Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21019700
Last Updated: 01/29/2021
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