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3840 Rockingham Place Riverside, CA 92504

3 Beds 2 Baths 1,743 sqft Built 1954

$489,888

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $281.06
  • 2 Days on Market
  • MLS # : CV20247797
  • Updated Date : 11/28/2020 at 14:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,743 sqft
  • Baths : 1 full , 1 half
Listing Agent

Pacific Realty Center

Listing Agent's Description

This beautiful turnkey single story home awaits you! Great location on a larger cul-de-sac street.Terrific floor plan, features 3 bedroom, a bonus room( can be converted to 4th bedroom) and 1.5 bathroom. Freshly painted in and out, barn doors, dual pane windows, wood and tiled flooring adorns this lovely home. Updated kitchen with granite counter tops opens into the breakfast nook. Spacious family room with warm and inviting fireplace. The outdoor space is great for entertaining family and friends, enjoy summer days in the pool and evening nights making s'mores over the firepit. Double garage with direct access and tandem driveway for ample guest parking. Separate gated RV parking. Don't miss out on this captivating home. Schedule a private tour today!

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: Canterbury Road

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $101k484k

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

Neighborhood: Canterbury Road

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8152101

* 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
Monroe Elementary School Primary Regular 671 26 4
Chemawa Middle School Middle Regular 896 41 4
Ramona High School High Magnet 2,160 85 4

Monroe Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 26
4
GreatSchools Rating

Chemawa Middle School

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

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$440,899$538,877$489,888

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,807
Property Tax -$474
Property Insurance -$69
Property Management Fees -$135
CASH FLOW
-$205

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.

$489,888

PROJECTED PRICE

$2,280

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.9%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$135,570

INVESTMENT

$135,570

Down Payment
$122,472
Rehab Estimate
$5,750
Closing Costs
$7,348

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,807

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,472
Loan Amount $367,416
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,916

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,309

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,1003$2,1004$2,2005$2,280
$2,280
RENT COMPS ANALYSIS
  • 3840 Rockingham Place Riverside, CA 5
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.31
    •  
  • 7395 Diamond Street Riverside, CA 1
    • 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1953
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.31
    •  
  • 4126 Wayne Court Riverside, CA 2
    • 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1954
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.39
    •  
  • 4055 Saint George Place Riverside, CA 3
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1954
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.31
    •  
  • 5850 Mountain View Avenue Riverside, CA 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1955
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.29
    •  
PROPERTY LISTING DETAILS
Leon Salajan
Pacific Realty Center
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20247797
Last Updated: 11/28/2020
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