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PROPERTY INFO
FACTS
- Single Family
- Built In 1953
- Price/Sqft : $373.13
- 7 Days on Market
- MLS # : IV20263474
- Updated Date : 12/28/2020 at 16:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,139 sqft
- Baths : 1 full
Listing Agent
Pacific Home Brokers
Listing Agent's Description
A commuter’s dream!! Located just minutes from the 91 freeway, and very close to shopping, restaurants, and schools, this remodeled three bedroom home offers everything you could possibly hope to find…and more! The open and spacious floor plan includes an absolutely stunning kitchen with dark cherry cabinets and stainless steel appliances, which create the ideal setting for the chef of the house to try out his/her latest recipes. The home also boasts crown molding, recessed lighting, and elegant wood laminate and tile floors, along with enough space for each member of the family to find a place to call their very own. There’s an expansive backyard that will allow your imagination to run wild, and make this home the perfect place for a lifetime of memories to be created, shared, and treasured for years to come. But hurry, as homes like these don’t come on the market very often and when they do, they don’t last long!
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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: Arlington Palms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Arlington Palms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$1,568 |
| Property Tax | -$417 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$459
|
||
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.
$425,000
PROJECTED PRICE
$1,680
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 9.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,375
LOAN DETAILS
$1,568
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
0.67
YEARS SAVED
$1,417
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$1.47
LIST RENT PER SQFT
-
$1,697
COMP ESTIMATED VALUE -
$1.49
COMP AVG. RENT PER SQFT
Comps Range
-
3530 Sidney Street Riverside, CA 1
- 3 beds 1 baths ∙ 1,139 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,139 Sqft ∙ Built 1953
![property image]()
- Rent
- Rent Per SQFT
- $1,680
- $1.47
-
3251 Arapahoe Street Riverside, CA 2
- 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959
![property image]()
LEASED 10/18/19- Rent
- Rent Per SQFT
- $1,695
- $1.43
-
3626 Lillian Street Riverside, CA 3
- 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958
![property image]()
LEASED 08/29/19- Rent
- Rent Per SQFT
- $1,850
- $1.47
-
3926 Madrona Road Riverside, CA 4
- 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
![property image]()
LEASED 11/20/20- Rent
- Rent Per SQFT
- $2,100
- $1.53
-
8633 Ouida Drive Riverside, CA 5
- 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957
![property image]()
LEASED 06/12/20- Rent
- Rent Per SQFT
- $2,150
- $1.53
PROPERTY LISTING DETAILS
Pacific Home Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20263474
Last Updated: 12/28/2020
