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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $356.32
- 4 Days on Market
- MLS # : IV21029111
- Updated Date : 02/12/2021 at 19:48
CONSTRUCTION
- Beds : 4
- Floor Size : 1,305 sqft
- Baths : 2 full
Listing Agent
Realty Executives/riverside
Listing Agent's Description
Welcome home to 4175 Wheeler Street. This beauty is nestled on a treelined street at the end of the cul-de-sac, in a family friendly neighborhood of Riverside. It is located next to beautiful Hunt Park, and within a short distance of Jackson Elementary and Chemawa Middle school, making this the perfect home for a growing family. This beauty's exterior has been freshly painted with earthy tones, and updated with dual pane windows. From the moment you enter the home you'll find an amazing array of features including a gorgeous open concept kitchen with new cabinetry, pot filler, new stainless steel stove, and quartz counter tops. This charming 4 bedroom, 2 bath home offers a spacious living room with an amazingly beautiful quartz fireplace, that opens up into the kitchen. All bathrooms have been updated with new fixtures, custom tile, and vanities. The backyard is private and ready for your imagination. The home is located near CBU, and just minutes to historic downtown Riverside where you can find shopping, dining, schools, parks, and even walking and hiking trails at Mt. Rubidoux. You wont want to miss touring this charming home. Truly a must see!
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MARKET HIGHLIGHTS
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Ramona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ramona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,880 |
| EXPENSES | Loan Payment | -$1,615 |
| Property Tax | -$450 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$111 | |
|
CASH FLOW
-$355
|
||
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.
$465,000
PROJECTED PRICE
$1,880
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 11.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$128,975
LOAN DETAILS
$1,615
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $116,250 |
| Loan Amount | $348,750 |
1.58
YEARS SAVED
$4,747
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,880
LIST RENT -
$1.44
LIST RENT PER SQFT
-
$2,006
COMP ESTIMATED VALUE -
$1.54
COMP AVG. RENT PER SQFT
Comps Range
-
4175 Wheeler Street Riverside, CA 1
- 4 beds 2 baths ∙ 1,305 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,305 Sqft ∙ Built 1955
- Rent
- Rent Per SQFT
- $1,880
- $1.44
-
3926 Madrona Road Riverside, CA 2
- 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
LEASED 11/20/20- Rent
- Rent Per SQFT
- $2,100
- $1.53
-
8633 Ouida Drive Riverside, CA 3
- 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957
LEASED 06/12/20- Rent
- Rent Per SQFT
- $2,150
- $1.53
-
4331 Monticello Avenue Riverside, CA 4
- 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957
LEASED 09/20/19- Rent
- Rent Per SQFT
- $2,200
- $1.54
-
8433 Crystal Avenue Riverside, CA 5
- 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1963
LEASED 10/16/20- Rent
- Rent Per SQFT
- $2,300
- $1.55
PROPERTY LISTING DETAILS
Realty Executives/riverside
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21029111
Last Updated: 02/12/2021
