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4171 Boise Street Riverside, CA 92501

4 Beds 2 Baths 1,440 sqft Built 1977

$469,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $325.69
  • 6 Days on Market
  • MLS # : WS20232157
  • Updated Date : 11/03/2020 at 14:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Irn Realty

Listing Agent's Description

A Must See!!! Great Location!! This beautiful home features 4 bedrooms, 2 bathrooms, 2 car attached garage. Just remodeled, Close to schools, shopping, freeways. You DO NOT want to miss out on this home!

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: Northside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $115k484k

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

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8912101

* 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
Beatty Elementary School Primary Regular 712 27 4
Beatty Elementary School Middle Regular 712 27 4
John W. North High School High Regular 2,281 95 4

Beatty Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 27
4
GreatSchools Rating

Beatty Elementary School

  • Education Level: Middle
  • # of students: 712
  • # of teachers: 27
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,730
Property Tax -$460
Property Insurance -$62
Property Management Fees -$122
CASH FLOW
-$314

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.

$469,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.9%
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$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,153

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0603$2,1004$2,2005$2,595
$2,595
RENT COMPS ANALYSIS
  • 4171 Boise Street Riverside, CA 2
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.43
    •  
  • 3481 Columbia Avenue Riverside, CA 1
    • 4 beds 1 baths ∙ 1,352 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,352 Sqft ∙ Built 1972
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.37
    •  
  • 1251 Salmon River Road Riverside, CA 3
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1990
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.33
    •  
  • 4557 Snake River Road Riverside, CA 4
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1991
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.63
    •  
  • 1431 Rivera Street Riverside, CA 5
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1989
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.65
    •  
PROPERTY LISTING DETAILS
Ying Xia
Irn Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20232157
Last Updated: 11/03/2020
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