Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2714 Denton Street Riverside, CA 92507

3 Beds 1 Baths 988 sqft Built 1928

$370,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $374.49
  • 7 Days on Market
  • MLS # : IV21005879
  • Updated Date : 01/14/2021 at 11:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 988 sqft
  • Baths : 1 full
Listing Agent

Modern Dwellings

Listing Agent's Description

HERE IT IS! Remodeled English Tudor home in the heart of Riverside under 400k! NEW kitchen, NEW bathroom. Refurbished hard wood floors and a one of a kind fireplace that was brought back to life! This home is great for a first time home buyer looking for TURN KEY. Indoor laundry, beautiful front porch seating and double doors to the side yard. Alley access into your detached 2 car garage. Close to downtown and not far from the major shopping centers. Walking distance to the elementary school and high school. You do not want to miss out on this affordable BEAUTIFUL home. HURRY This home will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

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
Magnolia Elementary School Primary Regular 704 26 6
Magnolia Elementary School Middle Regular 704 26 6
Poly High School High Regular 2,777 106 6

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 26
6
GreatSchools Rating

Magnolia Elementary School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 26
6
GreatSchools Rating

Poly High School

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

$333,000$407,000$370,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,285
Property Tax -$361
Property Insurance -$51
Property Management Fees -$100
CASH FLOW
-$97

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.

$370,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$2,000
$2,000
RENT COMPS ANALYSIS
  • 2714 Denton Street Riverside, CA 1
    • 3 beds 1 baths ∙ 988 Sqft ∙ Built 1928 3 beds 1 baths ∙ 988 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.72
    •  
  • 3908 Ramona Drive Riverside, CA 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1930
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.52
    •  
  • 4285 Oakwood Place Riverside, CA 3
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1939
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.58
    •  
PROPERTY LISTING DETAILS
Leighton Silva
Modern Dwellings
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21005879
Last Updated: 01/14/2021
BESbswy