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3370 Fanwood Court Riverside, CA 92503

3 Beds 1 Baths 1,310 sqft Built 1978

$484,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $370.15
  • 4 Days on Market
  • MLS # : PW21016058
  • Updated Date : 02/04/2021 at 15:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,310 sqft
  • Baths : 1 full
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

You will love this "right-sized" single level home on a cul-de-sac street. A great floor plan featuring 3 bedrooms and 2 baths and a good sized lot. The whole interior was painted in 2018. An oversized driveway with a 2 car garage with rollup door. The kitchen has been upgraded with new cabinets, stainless steel appliances including a stainless steel bucket sink and laminate counters with the look of granite. The kitchen is spacious and open and features a walk-in pantry. Very comfortable living room with fireplace and mantle. The secondary bedrooms are good sized with ceiling fans and picture windows. All bedrooms feature plush carpet flooring. The Master Bedroom features vaulted ceilings and dual closets with mirrored wardrobe sliding doors. Lots of well placed windows throughout the house bring in the natural lighting. There is also a sunroom with AC & Heat that has so many uses, Home office, TV room, play room for kids, great extra space. Hallway linen storage and a quiet cool whole house fan. You'll love the backyard year 'round. Plenty of grass area and hardscape for entertaining or relaxing. The spa and fire pit are added features to enjoy. The side yards are cemented and provide more usable space and are easily maintained. The garage features overhead storage and a large workbench that is equipped with it's own power. Perfect for those home projects. Conveniently located near local schools, shopping, freeways and other conveniences. WELCOME HOME!

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: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k518k

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

Neighborhood: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9542106

* 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
Orrenmaa Elementary School Primary Regular 596 23 4
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown 1,353 53 NA

Orrenmaa Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 23
4
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$436,410$533,390$484,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,684
Property Tax -$489
Property Insurance -$59
Property Management Fees -$118
CASH FLOW
-$350

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.

$484,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $1,916

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,2504$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3370 Fanwood Court Riverside, CA 1
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.53
    •  
  • 3217 Gallion Circle Riverside, CA 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.46
    •  
  • 337 Danbury Court Corona, CA 3
    • 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 1997
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.43
    •  
  • 11241 Wayfield Road Riverside, CA 4
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 11544 Inglewood Court Riverside, CA 5
    • 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Mary Ann Occhipinti
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21016058
Last Updated: 02/04/2021
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