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11149 Arlington Avenue Riverside, CA 92505

3 Beds 2 Baths 1,320 sqft Built 1958

$445,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $337.80
  • 2 Days on Market
  • MLS # : PW21042974
  • Updated Date : 03/06/2021 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Pacific Home Brokers

Listing Agent's Description

You do not want to miss viewing this recently renovated single-family home. The kitchen has been completely modernized with new cabinetry, sink, garbage disposal, faucet, stove, and dishwasher. The bathrooms have been updated with new cabinetry, cultured marble vanity tops/sinks, lighting, and fixtures. New laminate flooring throughout the home. The large living room displays a brick, wood burning fireplace, and opens to the cozy dining area. Newly installed Milgard windows throughout the home. The spacious, landscaped backyard is a nice retreat for anyone looking to enjoy a beautiful, upgraded, sparkling pool. This home will not last long!

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)
  • 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)
  • 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: Westgate

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $131k484k

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

Neighborhood: Westgate

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9412101

* 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
Rosemary Kennedy Elementary School Primary Regular 550 21 5
Loma Vista Middle School Middle Regular 1,070 43 4
Norte Vista High School High Regular 2,189 86 3

Rosemary Kennedy Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 21
5
GreatSchools Rating

Loma Vista Middle School

  • Education Level: Middle
  • # of students: 1,070
  • # of teachers: 43
4
GreatSchools Rating

Norte Vista High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 86
3
GreatSchools Rating
 

$401,310$490,490$445,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,549
Property Tax -$448
Property Insurance -$59
Property Management Fees -$115
CASH FLOW
-$221

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.

$445,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,914

INVESTMENT

$123,914

Down Payment
$111,475
Rehab Estimate
$5,750
Closing Costs
$6,689

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,475
Loan Amount $334,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $1,934

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$2,195
$2,195
RENT COMPS ANALYSIS
  • 11149 Arlington Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.48
    •  
  • 10035 Hillsborough Lane Riverside, CA 1
    • 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.55
    •  
  • 10120 Mandalay Court Riverside, CA 3
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.38
    •  
PROPERTY LISTING DETAILS
Brenda Phillips
Pacific Home Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21042974
Last Updated: 03/06/2021
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