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4316 Eileen Street Riverside, CA 92504

3 Beds 1 Baths 912 sqft Built 1953

$418,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $458.33
  • 11 Days on Market
  • MLS # : PW21014169
  • Updated Date : 01/30/2021 at 22:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 912 sqft
  • Baths : 1 full
Listing Agent

Remax Tiffany Real Estate

Listing Agent's Description

Great Starter Home ! A must see . Beautiful tree lined street in a well established community. Property has laminate flooring and tile kitchen flooring. Lots of charm .. Home features 3 bedrooms and 1 bathroom and open floor plan. Kitchen has newer cabinets and granite counter tops. Sliding door in dining area takes you out to a large backyard that you can also enjoy poolside entertainment. Pool has a removeable fencing, newly re-plastered and newer system.- Lot's of space to grow. Home has alarm system large driveway , include small RV or boat parking. Bring your buyers, this one won't last...

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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: California Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k484k

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

Neighborhood: California Square

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7912101

* 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
John Adams Elementary School Primary Regular 554 22 3
John Adams Elementary School Middle Regular 554 22 3
Ramona High School High Magnet 2,160 85 4

John Adams Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 22
3
GreatSchools Rating

John Adams Elementary School

  • Education Level: Middle
  • # of students: 554
  • # of teachers: 22
3
GreatSchools Rating

Ramona High School

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

$376,200$459,800$418,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,452
Property Tax -$404
Property Insurance -$49
Property Management Fees -$99
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.

$418,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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$116,520

INVESTMENT

$116,520

Down Payment
$104,500
Rehab Estimate
$5,750
Closing Costs
$6,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,452

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,500
Loan Amount $313,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,096

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $1,350

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,850
$1,850
RENT COMPS ANALYSIS
  • 4316 Eileen Street Riverside, CA 1
    • 3 beds 1 baths ∙ 912 Sqft ∙ Built 1953 3 beds 1 baths ∙ 912 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.83
    •  
  • 6418 Rhonda Road Riverside, CA 2
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1955
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.49
    •  
  • 3626 Lillian Street Riverside, CA 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.47
    •  
PROPERTY LISTING DETAILS
Donna Marie Ramirez
Remax Tiffany Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21014169
Last Updated: 01/30/2021
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