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2740 Bubbling Well Road Riverside, CA 92501

3 Beds 2 Baths 1,455 sqft Built 1969

$474,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1969
  • Price/Sqft : $326.39
  • 9 Days on Market
  • MLS # : IV20226523
  • Updated Date : 10/27/2020 at 20:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,455 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Great POOL Home in a super secluded Riverside Neighborhood! Remodeled home nestle in a unique neighborhood by popular Fairmount Park. Take the relaxing drive home thru the green belts and lake views that Fairmount Park has to offer. 3 Bedrooms, 2 baths, 2 car garage and a sparkling swimming pool. Cozy brick fireplace at living room. Home has been remodeled with new interior and exterior paint, new waterproof vinyl flooring, new carpet in all bedrooms, new recess lighting and ceiling fan at living room. New recess lighting at family room and hallway. Kitchen has been updated with New stainless steel appliances, new full back splash with Mosaic tile, and new recess lighting; large windows overlooking the back yard and refreshing swimming pool. Both bathrooms have been updated with new Flooring, new Vanities, sinks, and mirrors, new light and plumbing fixtures. Convenient jetted Walk-in Tub at master bathroom. Heavy duty super lasting Roofing material! Good size back yard with covered patio. Amazing Mighty Tree across the street from the home! Come and check it out! You won't be disappointed :-).

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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: Downtown Riverside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k484k

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

Neighborhood: Downtown Riverside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8342101

* 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
Bryant Elementary School Primary Regular 473 17 5
Bryant Elementary School Middle Regular 473 17 5
Poly High School High Regular 2,777 106 6

Bryant Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 17
5
GreatSchools Rating

Bryant Elementary School

  • Education Level: Middle
  • # of students: 473
  • # of teachers: 17
5
GreatSchools Rating

Poly High School

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

$427,410$522,390$474,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,752
Property Tax -$463
Property Insurance -$62
Property Management Fees -$136
CASH FLOW
-$113

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.

$474,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$26,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $2,401

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,3003$2,4004$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 2740 Bubbling Well Road Riverside, CA 2
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.58
    •  
  • 3456 3456 Poplar Street Riverside, CA 1
    • 3 beds 1 baths ∙ 1,223 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,223 Sqft ∙ Built 1954
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.55
    •  
  • 1495 Mulberry Street Riverside, CA 3
    • 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1953
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.66
    •  
  • 4171 Boise Street Riverside, CA 4
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1977
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.74
    •  
  • 1431 Rivera Street Riverside, CA 5
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1989
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.65
    •  
PROPERTY LISTING DETAILS
Guillermo Palomarez
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20226523
Last Updated: 10/27/2020
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