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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $364.18
- 4 Days on Market
- MLS # : IG20255221
- Updated Date : 12/11/2020 at 15:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,097 sqft
- Baths : 1 full
Listing Agent
Realty One Group West
Listing Agent's Description
Welcome to Single level enjoyment. This home offers a huge front and rear yard and has been upgraded in many areas: Insulation walls & attic, Central heat & air, sprinkler system front & back, ceiling fans in most rooms, newer garage door, 40 yr roof, updated kitchen, dual glazed vinyl windows, this year alone: fresh exterior stucco and paint and new aluma-wood patio with fans and lights. Original refinished wood floors and tile throughout. Entertain as many friends as you want in the large front and huge rear yard. The home as you see has been well cared for and is ready for a new family. Simply a genuinely nice home close to all amenities, freeways, schools, and shopping. Hurry will not last!!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Fairmount
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fairmount
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,750 |
| EXPENSES | Loan Payment | -$1,474 |
| Property Tax | -$393 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$103 | |
|
CASH FLOW
-$274
|
||
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.
$399,500
PROJECTED PRICE
$1,750
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 11.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,618
LOAN DETAILS
$1,474
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $99,875 |
| Loan Amount | $299,625 |
2.25
YEARS SAVED
$7,449
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,750
LIST RENT -
$1.6
LIST RENT PER SQFT
-
$1,656
COMP ESTIMATED VALUE -
$1.51
COMP AVG. RENT PER SQFT
Comps Range
-
1814 Fairmount Boulevard Riverside, CA 1
- 3 beds 1 baths ∙ 1,097 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,097 Sqft ∙ Built 1953
![property image]()
- Rent
- Rent Per SQFT
- $1,750
- $1.60
-
3473 Columbia Avenue Riverside, CA 2
- 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1971
![property image]()
LEASED 09/12/19- Rent
- Rent Per SQFT
- $1,850
- $1.61
-
3481 Columbia Avenue Riverside, CA 3
- 4 beds 1 baths ∙ 1,352 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,352 Sqft ∙ Built 1972
![property image]()
LEASED 06/14/20- Rent
- Rent Per SQFT
- $1,850
- $1.37
-
3456 3456 Poplar Street Riverside, CA 4
- 3 beds 1 baths ∙ 1,223 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,223 Sqft ∙ Built 1954
![property image]()
LEASED 10/31/19- Rent
- Rent Per SQFT
- $1,900
- $1.55
PROPERTY LISTING DETAILS
Realty One Group West
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20255221
Last Updated: 12/11/2020
