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2036 Milton Street Riverside, CA 92507

5 Beds 2 Baths 1,564 sqft Built 1988

$439,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $281.27
  • 5 Days on Market
  • MLS # : PW21027917
  • Updated Date : 02/12/2021 at 17:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

Amazing opportunity to own this Spacious home. Property features owned solar panels which have been paid in full, remodeled hallway bathroom, updated kitchen with stainless steel appliances, "Blue Star slide-in range", Custom built in Dining table with slab, custom woodwork/shelves, RV access, updated windows, large backyard and the list goes on. This is an opportunity unlike any other.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Lansdowne

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $92k484k

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

Neighborhood: Lansdowne

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7812101

* 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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,528
Property Tax -$431
Property Insurance -$65
Property Management Fees -$122
CASH FLOW
-$76

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.

$439,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.47%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$20,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,028

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,3003$2,3004$2,350
$2,350
RENT COMPS ANALYSIS
  • 2036 Milton Street Riverside, CA 1
    • 5 beds 2 baths ∙ 1,564 Sqft ∙ Built 1988 5 beds 2 baths ∙ 1,564 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.32
    •  
  • 3415 Dwight Avenue Riverside, CA 2
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2003
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.28
    •  
  • 1772 Palermo Drive Riverside, CA 3
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2007
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.26
    •  
  • 3422 Dwight Avenue Riverside, CA 4
    • 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 2007
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.35
    •  
PROPERTY LISTING DETAILS
Jesus Alcala
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21027917
Last Updated: 02/12/2021
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