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2310 Archdale Street Riverside, CA 92506

4 Beds 2 Baths 2,450 sqft Built 1964

$575,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $234.69
  • 3 Days on Market
  • MLS # : IV21029421
  • Updated Date : 02/13/2021 at 07:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,450 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Victoria Woods Home with swimming pool - Situated in the heart of Riverside - a short walk to schools and minutes from Riverside Plaza, a lovely mountain view from living room. This 4 bedroom + 2 bath single story home offers 2,450 square feet of living area plus a two car attached garage with interior access. It was constructed in 1964 and sits on a 12, 197 sq ft lot. Double door entry opens to spacious formal living room. Family room includes a cozy fireplace and built in bar and sliding glass door with pool view opens to covered patio in rear yard. Separate formal dining room with slider to rear yard. Kitchen offers loads of cabinet and counter space plus a separate breakfast room. Master bedroom features a walk-in closet and en-suite bath and a slider to private covered patio. Secondary bedrooms are all good sized and share a full hall bath. Fully landscaped with sprinklers.

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: Victoria Groves

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $144k729k

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

Neighborhood: Victoria Groves

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000120014001600180020002200240026002800Rent in $9672855

* 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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,997
Property Tax -$556
Property Insurance -$87
Property Management Fees -$159
CASH FLOW
-$99

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.

$575,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$20k

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$28,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,948

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$3,1004$3,100
$3,100
RENT COMPS ANALYSIS
  • 2310 Archdale Street Riverside, CA 2
    • 4 beds 2 baths ∙ 2,450 Sqft ∙ Built 1964 4 beds 2 baths ∙ 2,450 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.10
    •  
  • 5110 Pearblossom Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1970
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
  • 2953 Pinkerton Place Riverside, CA 3
    • 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 1954 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 1954
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.19
    •  
  • 2321 Prince Albert Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 1975
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.28
    •  
PROPERTY LISTING DETAILS
Karen Turner
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21029421
Last Updated: 02/13/2021
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