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3197 Mohawk Riverside, CA 92503

3 Beds 2 Baths 1,178 sqft Built 1979

$449,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $381.15
  • 8 Days on Market
  • MLS # : IV20232201
  • Updated Date : 11/18/2020 at 05:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,178 sqft
  • Baths : 2 full
Listing Agent

Mm Real Estate Services Inc

Listing Agent's Description

LOCATION!! LOCATION!! LOCATION!! THIS BEAUTIFUL RRIVERSIDE HOME LOCATED ON A CUL-DE SAC STREET!! THIS HOME FEATURES 3 BEDROOMS 2 BATHROOMS, COZY LIVING ROOM WITH FIREPLACE, REMODELED KITCHEN, GRANITE COUNTER TOP, STAINLESS STEEL APPLIANCES AND TILE FLOORING, CLOSE TO SCHOOLS, SHOPPING CENTERS WALK IN DISTANCE TO TYLER MALL, EASY ACCESS TO 91 FREEWAY. DON'T MISS OUT ON THIS GREAT DEAL!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Arlington South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $140k490k

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

Neighborhood: Arlington South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9292101

* 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
Harrison Elementary School Primary Regular 547 23 4
Chemawa Middle School Middle Regular 896 41 4
Arlington High School High Regular 1,956 79 5

Harrison Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 23
4
GreatSchools Rating

Chemawa Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 41
4
GreatSchools Rating

Arlington High School

  • Education Level: High
  • # of students: 1,956
  • # of teachers: 79
5
GreatSchools Rating
 

$404,100$493,900$449,000

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 -$1,657
Property Tax -$434
Property Insurance -$56
Property Management Fees -$113
CASH FLOW
-$340

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.

$449,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,537

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
  • $1.63

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9203$2,095
$2,095
RENT COMPS ANALYSIS
  • 3197 Mohawk Riverside, CA 2
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.63
    •  
  • 3251 Arapahoe Street Riverside, CA 1
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.43
    •  
  • 11460 Shugart Way Riverside, CA 3
    • 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1988
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.42
    •  
PROPERTY LISTING DETAILS
Madlen Mc Ghee
Mm Real Estate Services Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20232201
Last Updated: 11/18/2020
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