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2856 Maude Street Riverside, CA 92506

4 Beds 2 Baths 1,803 sqft Built 1963

$429,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $238.44
  • 6 Days on Market
  • MLS # : IV21060169
  • Updated Date : 03/27/2021 at 05:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,803 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Charming single story ranch house in the historic Victoria neighborhood. This early 1960's classic is the perfect family home. It's 4 bedroom, 2 bathroom "right sized" floor plan suits the growing family! It has a large front yard and a rear covered patio with orange and lemon trees for you to enjoy. This property is close to nearby dining, entertainment, great schools and walking trails. The interior of the home has a simple and efficient layout starting on your right with the kitchen, opening to the family and dining rooms. To the left a full bathroom, multiple storage closets and hallway leading to the guest bedrooms and ending at the master bedroom. The master bedroom has its own fireplace and patio access. Some of this home's upgrades include vinyl windows, new water heater, newer HVAC, upgraded bathrooms, new interior paint and newer composite shingle roof. Though this home is largely original it is move in ready!

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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: Victoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Victoria

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,493
Property Tax -$416
Property Insurance -$71
Property Management Fees -$142
CASH FLOW
$278

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.

$429,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 9.6%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$56,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,619

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2856 Maude Street Riverside, CA 3
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.33
    •  
  • 2702 Kathleen Street Riverside, CA 1
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1975
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.47
    •  
  • 3031 Horace Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.47
    •  
  • 3524 Carlsbad Way Riverside, CA 4
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1952
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.50
    •  
  • 2932 Mary Street Riverside, CA 5
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1977
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.37
    •  
PROPERTY LISTING DETAILS
Jeremy Hubacek
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21060169
Last Updated: 03/27/2021
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