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4392 University Avenue Riverside, CA 92501

3 Beds 1 Baths 1,234 sqft Built 1913

$435,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1913
  • Price/Sqft : $352.51
  • 3 Days on Market
  • MLS # : IV20251689
  • Updated Date : 12/05/2020 at 09:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,234 sqft
  • Baths : 1 full
Listing Agent

Modern Dwellings

Listing Agent's Description

Built by W.D. Erdice and nestled in the Evergreen Quarter Historic District of Downtown Riverside, this charming Craftsman bungalow is waiting for you. As you enter this home, you will notice some original touches that make this home so special such as the crown molding, tall baseboards and built in buffet. You can also appreciate some modern features like the BRAND NEW engineered hardwood flooring, fresh interior paint, NEW stone countertops in the kitchen and bathroom, NEWER roof, central AC and floor heating, NEW plumbing fixtures, NEW flooring in the kitchen and NEW carpet in the bedrooms. The spacious porch is the perfect place to enjoy the morning coffee. The fully fenced backyard is great for the kids to play safely. There is also a detached 1 car garage and driveway that fits 1 additional car. Located walking distance to Mt. Rubidoux, Fairmount Park and the Historic Mission Inn Hotel, along with plenty of great dining options, cultural sites and many other attractions. Schedule your private tour today!

SEE MORE

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: Evergreen Quarter Historic District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $103k484k

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

Neighborhood: Evergreen Quarter Historic District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8452101

* 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
Bryant Elementary School Primary Regular 473 17 5
Bryant Elementary School Middle Regular 473 17 5
Poly High School High Regular 2,777 106 6

Bryant Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 17
5
GreatSchools Rating

Bryant Elementary School

  • Education Level: Middle
  • # of students: 473
  • # of teachers: 17
5
GreatSchools Rating

Poly High School

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

$391,500$478,500$435,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,605
Property Tax -$423
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$564

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.

$435,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.37%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,6203$1,8504$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 4392 University Avenue Riverside, CA 2
    • 3 beds 1 baths ∙ 1,234 Sqft ∙ Built 1913 3 beds 1 baths ∙ 1,234 Sqft ∙ Built 1913
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.31
    •  
  • 3520 Crestmore Road Riverside, CA 1
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.16
    •  
  • 3294 Brockton Avenue Riverside, CA 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1923 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1923
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.27
    •  
  • 3908 Ramona Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1930
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.52
    •  
  • 4327 Jurupa Avenue Riverside, CA 5
    • 3 beds 1 baths ∙ 1,306 Sqft ∙ Built 1915 3 beds 1 baths ∙ 1,306 Sqft ∙ Built 1915
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.45
    •  
PROPERTY LISTING DETAILS
Catalina Castaneda
Modern Dwellings
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20251689
Last Updated: 12/05/2020
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