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2038 Carlton Place Riverside, CA 92507

4 Beds 2 Baths 1,633 sqft Built 1964

$475,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $290.88
  • 3 Days on Market
  • MLS # : IG21052964
  • Updated Date : 03/13/2021 at 05:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,633 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Welcome home to your fantastic TURNKEY Riverside pool home in a well established quiet community! This beautiful two story home features 4 bedrooms with the master suite conveniently situated on the lower level. This well maintained move in ready condition home features a new A/C system, newer roof, cozy fire place in the living room. A spacious kitchen and dining area with sliding door leading to your private backyard getaway, complete with a sparkling swimming pool, covered patio and lots of yard including fruit trees, perfect for great family get togethers. The downstairs master suite features sliding doors leading to the swimming pool, perfect for late night dips! Conveniently located close to the 60 & 91 fwys, schools and shopping centers. Downtown Riverside, The Mission Inn and UCR. This home is priced to sell quickly!

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: Eastside

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k484k

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

Neighborhood: Eastside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7962101

* 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
Gage Middle School Middle Regular 1,004 40 4
Poly High School High Regular 2,777 106 6

Gage Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 40
4
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,650
Property Tax -$460
Property Insurance -$67
Property Management Fees -$110
CASH FLOW
-$426

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.

$475,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.3%
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-$5.0k$0.0$5.0k$10k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8603$1,9504$1,9955$2,300
$2,300
RENT COMPS ANALYSIS
  • 2038 Carlton Place Riverside, CA 2
    • 4 beds 2 baths ∙ 1,633 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,633 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.14
    •  
  • 4384 Michael Street Riverside, CA 1
    • 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,430 Sqft ∙ Built 1952
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
  • 2071 Rancho Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1964
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
  • 4634 Windsor Road Riverside, CA 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1977
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.17
    •  
  • 5016 Tophill Place Riverside, CA 5
    • 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1960
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.31
    •  
PROPERTY LISTING DETAILS
James White
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21052964
Last Updated: 03/13/2021
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