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2405 Falling Oak Drive Riverside, CA 92506

4 Beds 2 Baths 2,140 sqft Built 1991

$620,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $289.72
  • 3 Days on Market
  • MLS # : CV21014850
  • Updated Date : 01/22/2021 at 20:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,140 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

What a rare opportunity to buy a home in the desirable community of Hawarden Hills. Nestled at the end of a cul-de-sac, this custom single-story home offers 4 oversized bedrooms +bonus room, high ceilings, a long driveway, RV parking, all on a large and usable 15,246 sq. ft. lot. Some features included: commercial style stove range, modern style kitchen with travertine splashback, breakfast bar, high ceilings throughout, dual pane windows, built-in office, a sliding door in kitchen, living room and master bedroom, mature fruit trees, etc. this house is a must see.

SEE MORE

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: Hawarden Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $144k759k

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

Neighborhood: Hawarden Hills

* 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
Washington Elementary School Primary Regular 799 32 4
Gage Middle School Middle Regular 1,004 40 4
Poly High School High Regular 2,777 106 6

Washington Elementary School

  • Education Level: Primary
  • # of students: 799
  • # of teachers: 32
4
GreatSchools Rating

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
 

$558,000$682,000$620,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$2,153
Property Tax -$600
Property Insurance -$79
Property Management Fees -$146
CASH FLOW
-$508

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.

$620,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,668

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,5003$2,5504$3,050
$3,050
RENT COMPS ANALYSIS
  • 2405 Falling Oak Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.15
    •  
  • 2932 Mary Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1977
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.37
    •  
  • 16435 Grey Lane Riverside, CA 3
    • 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1980
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
  • 6153 Bluffwood Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1977
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.31
    •  
PROPERTY LISTING DETAILS
Fernando Arizaga
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21014850
Last Updated: 01/22/2021
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