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4087 Garden Home Court Riverside, CA 92506

3 Beds 2 Baths 1,260 sqft Built 1928

$492,500

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $390.87
  • 4 Days on Market
  • MLS # : IV20259185
  • Updated Date : 12/17/2020 at 16:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Gs Strategies, Inc.

Listing Agent's Description

This beautifully remodeled 3 bedroom 2 bath home has approximately 1,260 square feet of living space and is located adjacent to the Highly Revered Woods Streets, without all the restrictions. This home has been updated from the ground up with a new master bedroom, bathroom and a detached two car garage. New flooring, paint and cabinetry throughout. The kitchen features tile floors, new cabinets and quartz counter tops. There is a small dining nook off the kitchen. All windows have been updated to dual pane, vinyl units. The HVAC system is new and up to current energy efficiency requirements. There is a large side yard which can be an RV parking area or private play area for the kids. There are two driveways and ample off street parking.

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: Garden Home

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $105k584k

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

Neighborhood: Garden Home

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280010001200140016001800200022002400Rent in $7872496

* 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
Magnolia Elementary School Primary Regular 704 26 6
Magnolia Elementary School Middle Regular 704 26 6
Poly High School High Regular 2,777 106 6

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 26
6
GreatSchools Rating

Magnolia Elementary School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 26
6
GreatSchools Rating

Poly High School

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

$443,250$541,750$492,500

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,817
Property Tax -$480
Property Insurance -$52
Property Management Fees -$113
CASH FLOW
-$542

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.

$492,500

PROJECTED PRICE

$1,920

PROJECTED RENT

0.39%

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

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$136,263

INVESTMENT

$136,263

Down Payment
$123,125
Rehab Estimate
$5,750
Closing Costs
$7,388

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,817

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,125
Loan Amount $369,375
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,920
$1,920
RENT COMPS ANALYSIS
  • 4087 Garden Home Court Riverside, CA
    • 3 beds 2 baths ∙ 1,009 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,009 Sqft ∙ Built 1928
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.90
    •  
PROPERTY LISTING DETAILS
John Martindale
Gs Strategies, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20259185
Last Updated: 12/17/2020
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