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4056 Rees Street Riverside, CA 92504

4 Beds 2 Baths 1,257 sqft Built 1956

$450,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $358.00
  • 11 Days on Market
  • MLS # : IV21039149
  • Updated Date : 03/05/2021 at 21:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,257 sqft
  • Baths : 2 full
Listing Agent

Exclusive Properties

Listing Agent's Description

Coming Soon: This nice Riverside home is brimming with potential and awaiting a lucky new owner! Home features 4 bedrooms and two baths, has a huge driveway that leads to a 2 car garage. Backyard features spa, and pavers. Conveniently located near 91 Freeway, Walking distance to Cal Baptist University. Schools, and shopping centers. Latest upgrades are the kitchen cabinets, and counter tops. Low taxes, no HOA, This is a Probate sale with court confirmation

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: California Manor

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $109k584k

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

Neighborhood: California Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $8372496

* 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
Sierra Middle School Middle Regular 890 41 3
Ramona High School High Magnet 2,160 85 4

Sierra Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 41
3
GreatSchools Rating

Ramona High School

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

$405,000$495,000$450,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,563
Property Tax -$435
Property Insurance -$58
Property Management Fees -$111
CASH FLOW
-$287

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.

$450,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8803$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 4056 Rees Street Riverside, CA 2
    • 4 beds 2 baths ∙ 1,257 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,257 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.50
    •  
  • 4214 Adams Street Riverside, CA 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 4126 Wayne Court Riverside, CA 3
    • 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1954
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.39
    •  
  • 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
Albert Rodriguez
Exclusive Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21039149
Last Updated: 03/05/2021
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