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3965 Beechwood Place Riverside, CA 92506

4 Beds 2 Baths 1,841 sqft Built 1969

$600,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $325.91
  • 4 Days on Market
  • MLS # : IV21061474
  • Updated Date : 03/26/2021 at 09:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,841 sqft
  • Baths : 2 full
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

Turnkey ranch-style home located in Riverside’s sought-after historic Wood Streets neighborhood in the heart of the city. Built in 1969, this adorable home sits on a spacious quarter-acre lot. The interior features a fabulous open great room with a cozy brick fireplace, new and beautiful vinyl plank flooring, crown molding, large dual paned windows, and two sets of French doors that lead to the backyard and allow for abundant natural light. The newly renovated kitchen features new shaker cabinets, quartz countertops, breakfast bar, recessed lighting, stainless steel appliances, built-in wine fridge and a Kitchen Aid gas range. The formal living room has a fireplace and a large picture window offering views of the front yard. The primary bedroom is situated towards the rear of the home providing privacy and has an en suite bathroom with a shower. The front guest room may be used as an office or bedroom. The other 2 guest bedrooms are generously sized with ample closet space and large dual paned windows allowing for plenty of natural light. The guest bathroom offers a tiled vanity area and bathtub. The backyard is beautiful with a large wrap around patio area, fire pit, a gorgeous Magnolia tree, and plenty of grassy area for the kids to play; or even for a pool! Close to downtown Riverside eateries and shopping, the historic Mission Inn, the Riverside Plaza, freeway access, and award winning Riverside Unified schools.

SEE MORE

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: Beechwood Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Beechwood Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Central Middle School Middle Regular 713 31 3
Poly High School High Regular 2,777 106 6
Central Middle School Middle Unknown NA

Central Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 31
3
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating

Central Middle School

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

$540,000$660,000$600,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,084
Property Tax -$585
Property Insurance -$72
Property Management Fees -$131
CASH FLOW
-$651

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.

$600,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,228

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,1004$2,220
$2,220
RENT COMPS ANALYSIS
  • 3965 Beechwood Place Riverside, CA 4
    • 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.21
    •  
  • 4705 Beverly Court Riverside, CA 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1953
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.15
    •  
  • 4916 Glorietta Lane Riverside, CA 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1959
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.26
    •  
  • 3059 Westridge Road Riverside, CA 3
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
PROPERTY LISTING DETAILS
Brent Lee
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21061474
Last Updated: 03/26/2021
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