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3149 Ronald Street Riverside, CA 92506

4 Beds 2 Baths 1,340 sqft Built 1953

$429,800

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $320.75
  • 5 Days on Market
  • MLS # : PW21043056
  • Updated Date : 03/05/2021 at 14:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Nationwide Real Estate Execs

Listing Agent's Description

Don't miss this charming 4 bedroom and 2 bathroom home that sits on a beautiful tree-lined street. A spacious floor plan that includes a large living area and an inviting kitchen with an area for dining. Bathrooms recently updated with designer touches. This property is conveniently located near shopping, schools, and freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Brockton Heights East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $110k484k

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

Neighborhood: Brockton Heights East

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8842101

* 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
 

$386,820$472,780$429,800

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,493
Property Tax -$416
Property Insurance -$60
Property Management Fees -$113
CASH FLOW
-$162

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.

$429,800

PROJECTED PRICE

$1,920

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.0%
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

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$119,647

INVESTMENT

$119,647

Down Payment
$107,450
Rehab Estimate
$5,750
Closing Costs
$6,447

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $107,450
Loan Amount $322,350
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9503$1,9754$2,1455$2,300
$2,300
RENT COMPS ANALYSIS
  • 3149 Ronald Street Riverside, CA 1
    • 4 beds 2 baths ∙ 1,340 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,340 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.43
    •  
  • 4770 Gardena Drive Riverside, CA 2
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.42
    •  
  • 7395 Diamond Street Riverside, CA 3
    • 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1953
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.31
    •  
  • 2835 Iron Hills Way Riverside, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.43
    •  
  • 3031 Horace Street Riverside, CA 5
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.47
    •  
PROPERTY LISTING DETAILS
Daryl Owen
Nationwide Real Estate Execs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21043056
Last Updated: 03/05/2021
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