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4195 Lodi Place Riverside, CA 92505

3 Beds 2 Baths 1,152 sqft Built 1985

$460,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $399.31
  • 14 Days on Market
  • MLS # : OC21141079
  • Updated Date : 07/09/2021 at 18:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Corona Market Center

Listing Agent's Description

This culdesac-situated Single Story in the highly desirable family-friendly community of Sierra Heights offers 3 bedrooms and 2 full Bathrooms with a Bright open floor plan. As you enter the family room you notice the cozy Fireplace, vaulted ceilings, beautiful laminate wood flooring and fun-for-entertaining wet bar. The kitchen is open to the dining area with a vaulted ceiling and overlooks the backyard with the Alumawood patio cover with recessed lighting. The Master Bedroom features a private entrance to the backyard, High vaulted ceilings, two separate closets, and an upgraded master bath. Close to schools, parks, shopping centers, restaurants, and access to the 91 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: 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
Phillip Stokoe Elementary School Primary Regular 774 30 3
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown NA

Phillip Stokoe Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 30
3
GreatSchools Rating

Villegas Middle School

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

Hillcrest High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,598
Property Tax -$467
Property Insurance -$55
HOA -$125
Property Management Fees -$120
CASH FLOW
-$335

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.

$460,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.44%

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

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0303$2,1004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 4195 Lodi Place Riverside, CA 2
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.76
    •  
  • 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
    •  
  • 2386 Weatherwood Road Corona, CA 3
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 2260 Dorado Street Corona, CA 4
    • 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1996
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.56
    •  
  • 3513 April Shower Drive Riverside, CA 5
    • 3 beds 3 baths ∙ 1,466 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,466 Sqft ∙ Built 1988
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.57
    •  
PROPERTY LISTING DETAILS
Chris Taylor
Keller Williams Corona Market Center
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21141079
Last Updated: 07/09/2021
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