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3346 Sunnyside Drive Riverside, CA 92506

4 Beds 2 Baths 1,805 sqft Built 1963

$485,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $268.70
  • 2 Days on Market
  • MLS # : CV20231645
  • Updated Date : 11/02/2020 at 21:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,805 sqft
  • Baths : 2 full
Listing Agent

The Associates Realty Group

Listing Agent's Description

Beautifully kept POOL HOME in the heart of Riverside. This 4 bedroom 2 bathroom home is a perfect home for any growing family. This property has an open layout with an exceptionally large family room, dining room and beautiful kitchen. It is ready to be tailored to your unique style. This property is walking distance from schools, restaurants and shopping centers and just minutes away from RCC, UCR and CBU. You won't want to miss out on this opportunity!

SEE MORE

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: Sun Gold Terrace North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $133k484k

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

Neighborhood: Sun Gold Terrace North

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672101

* 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
Pachappa Elementary School Primary Regular 778 31 7
Pachappa Elementary School Middle Regular 778 31 7
Poly High School High Regular 2,777 106 6

Pachappa Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 31
7
GreatSchools Rating

Pachappa Elementary School

  • Education Level: Middle
  • # of students: 778
  • # of teachers: 31
7
GreatSchools Rating

Poly High School

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

$436,500$533,500$485,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,789
Property Tax -$473
Property Insurance -$71
Property Management Fees -$136
CASH FLOW
-$159

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.

$485,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.48%

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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$22,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,491

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1453$2,3104$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3346 Sunnyside Drive Riverside, CA 3
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.28
    •  
  • 3059 Westridge Road Riverside, CA 1
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 2835 Iron Hills Way Riverside, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.43
    •  
  • 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
Amber Williams
The Associates Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231645
Last Updated: 11/02/2020
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