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4105 Paden Street Riverside, CA 92504

3 Beds 2 Baths 1,110 sqft Built 1955

$409,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $369.28
  • 4 Days on Market
  • MLS # : IG20232923
  • Updated Date : 11/05/2020 at 12:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Gorgeous 3 bedroom, 2 full bathroom, single story home with a sparkling pool on a huge lot in the community of Riverside! Enjoy a landscaped front yard, extended driveway and a comfortable fenced courtyard. The family room offers an inviting brick fireplace and plenty of room for entertaining. The upgraded kitchen overlooks the living area and features beautiful wood cabinetry and granite countertops. The spacious bedrooms are carpeted and offer plenty of closet space. Both bathrooms showcase tile in the shower and tub, alongside upgraded vanities and tile flooring. Other property highlights include the concrete hardscape that lines both sides of the property leading to the covered patio in the back yard. The driveway was extended for RV space and there is no HOA. Convenient to area markets, restaurants, and easy access to major freeway!

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: 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
Jefferson Elementary School Primary Regular 910 35 5
Jefferson Elementary School Middle Regular 910 35 5
Ramona High School High Magnet 2,160 85 4

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 35
5
GreatSchools Rating

Jefferson Elementary School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 35
5
GreatSchools Rating

Ramona High School

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

$368,910$450,890$409,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,512
Property Tax -$397
Property Insurance -$54
Property Management Fees -$113
CASH FLOW
-$166

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.

$409,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.47%

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$15k

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$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,512

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $1,612

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9104$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 4105 Paden Street Riverside, CA 3
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.72
    •  
  • 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
    •  
  • 3626 Lillian Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.47
    •  
  • 8197 Helena Avenue Riverside, CA 4
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1956
    property image
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.47
    •  
  • 3926 Madrona Road Riverside, CA 5
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.45
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20232923
Last Updated: 11/05/2020
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