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4341 1st Street Riverside, CA 92501

4 Beds 2 Baths 1,937 sqft Built 1912

$549,999

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1912
  • Price/Sqft : $283.94
  • 13 Days on Market
  • MLS # : IV21027303
  • Updated Date : 02/18/2021 at 12:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,937 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Charming 1912 Craftsman style bungalow with all the modern amenities of today! Located in the heart of downtown Riverside, this spacious 4 bed 2 bath home comes fully loaded with upgrades! New kitchen and bathrooms, new tasteful laminate floors throughout with fresh carpet in the bedrooms, ceiling fans and paint. Brand new roof with “cool roof system” to keep the home temperate on hot days. All new double pane windows, plantation shutters and solar power exterior shades to cut out sun glare. Main floor features 2 bedrooms and 1 full bathroom, bonus room/dinning room with beamed ceiling and laundry room. Upstairs you will find the master bedroom and an additional bedroom. Enjoy sunny days in the spacious backyard, equipped with new sprinkler system and additional drip system in gardening beds. Your dogs will love their own private dog run! Enjoy cool nights in front of the outdoor fireplace, recently restored to its original grandeur. Feel safe with a fully wired professional security camera system. Delight in this walkable neighborhood surround by historic homes, walk to Fairmount park, Lake Evans, Mt. Rubidoux and all the exciting entertainment downtown has to offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Fairmount Heights West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $137k484k

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

Neighborhood: Fairmount Heights West

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8252101

* 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
Central Middle School Middle Regular 713 31 3
Poly High School High Regular 2,777 106 6
Central Middle School Middle Unknown NA

Central Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 31
3
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating

Central Middle School

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

$494,999$604,999$549,999

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,910
Property Tax -$536
Property Insurance -$74
Property Management Fees -$171
CASH FLOW
$209

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.

$549,999

PROJECTED PRICE

$2,900

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,499
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$57,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $3,777

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,300
$3,300
RENT COMPS ANALYSIS
  • 4341 1st Street Riverside, CA 1
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 1912 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 1912
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.50
    •  
  • 3581 Bandini Avenue Riverside, CA 2
    • 4 beds 2 baths ∙ 1,689 Sqft ∙ Built 1932 4 beds 2 baths ∙ 1,689 Sqft ∙ Built 1932
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.95
    •  
PROPERTY LISTING DETAILS
Frederick Gordon
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21027303
Last Updated: 02/18/2021
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