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1852 Missouri Street Riverside, CA 92507

3 Beds 2 Baths 1,005 sqft Built 1956

$415,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $412.94
  • 4 Days on Market
  • MLS # : PW21057352
  • Updated Date : 03/18/2021 at 18:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,005 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway H.s.c.p.

Listing Agent's Description

Welcome to your recently Remodeled Pool Home!!! You'll love having your friends and family over for swimming and barbequing while everyone one enjoys the shade of the covered patio. Custom Designed Kitchen has new white shaker cabinets with soft close cabinets and drawers, granite counters, Frigidaire stainless steel range, microwave and dishwasher with a water line in place for your refrigerator. Canned lighting completes the kitchen. This home has a master suite and even subterranean storage space with square footage approximately 6' x 7'. Bathrooms are updated with tile in tub and shower, vanities, sinks, faucets, lighting and tile floors. Home has laminate wood flooring. When you are not using your newer central heat and air system controlled with a Nest Smart Thermostat, which allows you to control the temperature while out, you can use the ceiling fans in all bedrooms and the living room. Newer dual pane insulated windows, newer base molding, newer front door and newer hot water heater. Home has washer and dryer hookups available and a 2 Car Garage. landscaped with automatic sprinklers and a lemon and orange tree in the back yard. All this in a Beautiful Neighborhood with Nearby Schools and Parks. This 3 bedroom 2 bath 1,005 sq. ft. home feels much larger than it is. This home won’t last, put in your best offer now! Buyer to verify permits.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Anderson Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $96k484k

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

Neighborhood: Anderson Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8212101

* 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
University Heights Middle School Middle Regular 824 36 4
John W. North High School High Regular 2,281 95 4
University Heights Middle School Middle Unknown NA

University Heights Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 36
4
GreatSchools Rating

John W. North High School

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

University Heights Middle School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,441
Property Tax -$404
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$366

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.

$415,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,9004$2,000
$2,000
RENT COMPS ANALYSIS
  • 1852 Missouri Street Riverside, CA 1
    • 3 beds 2 baths ∙ 1,005 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,005 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.62
    •  
  • 2324 Vermont Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1950
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.49
    •  
  • 3456 3456 Poplar Street Riverside, CA 3
    • 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
    •  
  • 1244 N Orange Street Riverside, CA 4
    • 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1944 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1944
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.48
    •  
PROPERTY LISTING DETAILS
Kerie Edmead
Berkshire Hathaway H.s.c.p.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21057352
Last Updated: 03/18/2021
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