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4255 Lido Drive Riverside, CA 92503

3 Beds 2 Baths 1,166 sqft Built 1956

$420,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $360.21
  • 6 Days on Market
  • MLS # : IG20232208
  • Updated Date : 11/06/2020 at 10:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,166 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Welcome Home! This is a beautiful 3 bedroom, 2 bathroom home. The stunningly upgraded kitchen stands out with laminated flooring, granite countertops, and spacious wood cabinets, a cozy living room with a fireplace that is perfect to enjoy with family and friends, updated fixtures , dual panel windows, recessed lighting, spacious master bedroom, gorgeous backyard perfect to entertain or just relax under the covered patio, large driveway. No HOA, low taxes, close to shopping centers, parks and schools. The perfect house to call 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: Villa D Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $120k484k

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

Neighborhood: Villa D Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8982101

* 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
Jackson Elementary School Primary Regular 847 33 5
Jackson Elementary School Middle Regular 847 33 5
Ramona High School High Magnet 2,160 85 4

Jackson Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 33
5
GreatSchools Rating

Jackson Elementary School

  • Education Level: Middle
  • # of students: 847
  • # of teachers: 33
5
GreatSchools Rating

Ramona High School

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

$378,000$462,000$420,000

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 -$1,550
Property Tax -$406
Property Insurance -$55
Property Management Fees -$120
CASH FLOW
-$92

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.

$420,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.8%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,871

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
  • $1.75

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,0404$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 4255 Lido Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.75
    •  
  • 4214 Adams Street Riverside, CA 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 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 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.45
    •  
  • 8633 Ouida Drive Riverside, CA 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Maria Quesada
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20232208
Last Updated: 11/06/2020
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