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4067 Jones Avenue Riverside, CA 92505

4 Beds 2 Baths 1,436 sqft Built 1959

$469,988

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $327.29
  • 5 Days on Market
  • MLS # : IG21032320
  • Updated Date : 02/18/2021 at 10:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,436 sqft
  • Baths : 2 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

ABSOLUTELY Gorgeous SINGLE STORY Home has been Recently REMODELED and SHOWS BEAUTIFULLY * SPACIOUS Floorplan with 1436sqft offering 4 LARGE Bedrooms & 2 FULL Bathrooms...AND a Huge Backyard * Great Kitchen w/Lots of Counter Space & Subway Tile Back-Splash, Breakfast Nook & STAINLESS STEEL Appliances * Extra Large Living Room with Beautiful Wood Laminate Floors and Ceiling Fan * HUGE Backyard with Covered Sitting Area and Patio with PLENTY of SPACE for the Kids to Play or add your Custom Pool * UPGRADED Throughout w/Custom Interior Paint, New ROOF, New AC Unit, Beautiful Wood Laminate Flooring, Ceiling Fans, DESIGNER FIXTURES, Remodeled Bathrooms w/TILED Floors, Raised Panel Doors, SMOOTH CEILINGS, Newer Exterior Paint Base Molding & MUCH MORE * SPACIOUS Master Bedroom w/Beautiful Wood Laminate Floors AND Private Master Bathroom * Indoor Laundry Room * Nice Curb Appeal with front Porch and 2 Car Attached Garage and Possible RV/Boat Parking * Close to Schools, Shopping, Restaurants, Parks & EZ Freeway Access - SUBMIT ALL OFFERS..THIS WONT LAST!!!

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: La Sierra Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: La Sierra Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112166

* 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
Collett Elementary School Primary Regular 637 27 3
Arizona Middle School Middle Regular 1,111 42 4
La Sierra High School High Regular 2,137 91 4

Collett Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 27
3
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

La Sierra High School

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

$422,989$516,987$469,988

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,632
Property Tax -$476
Property Insurance -$62
Property Management Fees -$128
CASH FLOW
-$128

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.

$469,988

PROJECTED PRICE

$2,170

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.3%
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$1.8M

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$130,297

INVESTMENT

$130,297

Down Payment
$117,497
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,497
Loan Amount $352,491
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$17,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $2,150

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$2,085
1$2,0852$2,1703$2,2504$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 4067 Jones Avenue Riverside, CA 2
    • 4 beds 2 baths ∙ 1,436 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,436 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.51
    •  
  • 2985 Winifred Street Riverside, CA 1
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1960
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $1.56
    •  
  • 10599 Cochran Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1959
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.47
    •  
  • 11241 Wayfield Road Riverside, CA 4
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 11544 Inglewood Court Riverside, CA 5
    • 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Tom Tennant
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21032320
Last Updated: 02/18/2021
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