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3741 Lofton Place Riverside, CA 92501

3 Beds 1 Baths 1,077 sqft Built 1954

$388,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $361.10
  • 2 Days on Market
  • MLS # : IV21004837
  • Updated Date : 03/13/2021 at 16:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,077 sqft
  • Baths : 1 full
Listing Agent

Modern Dwellings

Listing Agent's Description

Welcome home! This is a perfect choice for young families or first-time homeowners… The large covered front porch is accented by arches and is shaded by a large fruitful avocado tree and is a great place to relax and enjoy those lazy summer days… Upon entering this home, you are in the living room with plenty of natural light. This room has new dimmable recessed lighting. The adjacent dining area has a ceiling fan. Kitchen has a built-in dishwasher, gas stove, garbage disposal, water filtration system, and a refrigerator ice maker line. Off the kitchen is a laundry/pantry room… This home has 3 spacious bedrooms and an upgraded bathroom. Additional upgrades include dual-pane windows with faux wood blinds throughout the entire house, new electrical outlets and switches, and the interior was recently painted… Long driveway leads to a detached 2-car garage which has a small office inside… The beautiful grassy backyard boasts of 10 fruit bearing trees (2 apricot, 2 peach, 2 lemon, 2 orange, 1 pomegranate, and 1 apple)! It also has 3 raised bed gardens for planting your favorite vegetables, an automatic sprinkler system, a shed for garden tools, and a white vinyl fence for privacy. Playground is perfect for the kids to play. This home has a central station alarm system, 4K/5MP security cameras and did I mention the gorgeous palm tree in the front yard??? Hurry, this home will not last!!!

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: Orange Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $95k484k

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

Neighborhood: Orange Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7892101

* 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
University Heights Middle School Middle Regular 824 36 4
John W. North High School High Regular 2,281 95 4
University Heights Middle School Middle Unknown NA

University Heights Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 36
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating

University Heights Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$350,010$427,790$388,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,351
Property Tax -$383
Property Insurance -$53
Property Management Fees -$102
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.

$388,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$108,809

INVESTMENT

$108,809

Down Payment
$97,225
Rehab Estimate
$5,750
Closing Costs
$5,834

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,225
Loan Amount $291,675
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $1,727

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,9003$1,9004$2,200
$2,200
RENT COMPS ANALYSIS
  • 3741 Lofton Place Riverside, CA 1
    • 3 beds 1 baths ∙ 1,077 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,077 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.61
    •  
  • 3473 Columbia Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1971
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.65
    •  
  • 3456 3456 Poplar Street Riverside, CA 3
    • 3 beds 1 baths ∙ 1,223 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,223 Sqft ∙ Built 1954
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.55
    •  
  • 1839 Spring Garden Street Riverside, CA 4
    • 3 beds 1 baths ∙ 1,363 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,363 Sqft ∙ Built 1952
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
PROPERTY LISTING DETAILS
Tom Shook
Modern Dwellings
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21004837
Last Updated: 03/13/2021
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