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3866 Simmons Avenue Riverside, CA 92505

3 Beds 3 Baths 1,606 sqft Built 1987

$510,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $317.56
  • 2 Days on Market
  • MLS # : PW21058137
  • Updated Date : 03/20/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full , 1 half
Listing Agent

Camino Real Investments

Listing Agent's Description

Don't miss out on this Beautiful and well Kept 3 bedrooms and 2.5 bathrooms, 2 story home with RV parking located in a nice and quiet community close to shopping centers, Tyler Mall, easy access to 91 and 15 freeways , a great size lot, walking distance to McAuliffe Elementary School

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: La Sierra

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $142k484k

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

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672141

* 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
Mcauliffe Elementary School Primary Regular 753 28 4
Villegas Middle School Middle Regular 1,356 53 5
La Sierra High School High Regular 2,137 91 4

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 28
4
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

La Sierra High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 91
4
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,771
Property Tax -$518
Property Insurance -$66
Property Management Fees -$117
CASH FLOW
-$483

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.

$510,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.6%
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-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,1003$2,1504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 3866 Simmons Avenue Riverside, CA 1
    • 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.24
    •  
  • 4589 Bieber Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2002
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.37
    •  
  • 4430 Pondmoor Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2003
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.23
    •  
  • 4491 Brookbridge Drive Riverside, CA 4
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2006
    LEASED 03/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.40
    •  
  • 4506 Landeen Court Riverside, CA 5
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2002
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.44
    •  
PROPERTY LISTING DETAILS
Richard Montes
Camino Real Investments
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21058137
Last Updated: 03/20/2021
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