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4114 Midland Road Riverside, CA 92505

3 Beds 2 Baths 1,254 sqft Built 1976

$445,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $354.86
  • 18 Days on Market
  • MLS # : IG20259218
  • Updated Date : 01/02/2021 at 11:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,254 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Riv

Listing Agent's Description

Beautiful home on a quiet, interior street. Open Floor Plan with Vaulted Ceilings! Crown Molding! Great home for entertaining! Windows 3 years old. Remodeled Kitchen that is open to the living room and dining or family room. Stainless Appliances, Remodeled Bathrooms, Shed in backyard, Paint and Flooring 5 years old. Master Bathroom was remodeled in Dec. 2020. Oversized Driveway Located close to 91 Fwy, Metro Link, Grocery and Galleria. SEE VIRTUAL TOUR

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: La Sierra

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $142k484k

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

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672141

* 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
Mcauliffe Elementary School Primary Regular 753 28 4
Villegas Middle School Middle Regular 1,356 53 5
La Sierra High School High Regular 2,137 91 4

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 28
4
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

La Sierra High School

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

$400,500$489,500$445,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,642
Property Tax -$452
Property Insurance -$58
Property Management Fees -$120
CASH FLOW
-$232

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.

$445,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0403$2,2504$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 4114 Midland Road Riverside, CA 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.63
    •  
  • 11507 Rancho Del Oro Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.54
    •  
  • 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
    •  
  • 2634 Roca Circle Corona, CA 5
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1988
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
PROPERTY LISTING DETAILS
Alice Bechtel
Keller Williams Realty Riv
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20259218
Last Updated: 01/02/2021
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