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4415 Douglass Avenue Riverside, CA 92507

4 Beds 2 Baths 1,466 sqft Built 1951

$399,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $272.78
  • 2 Days on Market
  • MLS # : IV21151585
  • Updated Date : 07/12/2021 at 13:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Modern Dwellings

Listing Agent's Description

Original owner, first time on the market! Bring your imagination and turn this 4 bedroom 2 bathroom home into a beauty. Featuring a spacious family room, long driveway to park multiple cars, big front yard for the kiddos to play safely, central AC & Heating, nice sized backyard with fruit trees, 2 car garage, and much more. Conveniently located minutes away from the 91 FWY and Downtown Riverside with the Mission Inn Hotel, the Food Lab, shopping and many others.

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: University Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $89k484k

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

Neighborhood: University Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7022101

* 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
Gage Middle School Middle Regular 1,004 40 4
Poly High School High Regular 2,777 106 6

Gage Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 40
4
GreatSchools Rating

Poly High School

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

$359,910$439,890$399,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,389
Property Tax -$390
Property Insurance -$63
Property Management Fees -$117
CASH FLOW
$22

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.

$399,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9503$1,9804$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4415 Douglass Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.35
    •  
  • 2763 Pleasant Street Riverside, CA 1
    • 3 beds 1 baths ∙ 1,483 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,483 Sqft ∙ Built 1947
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 2071 Rancho Drive Riverside, CA 2
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1964
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
  • 5016 Tophill Place Riverside, CA 4
    • 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1960
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.31
    •  
  • 1404 Le Conte Drive Riverside, CA 5
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1962
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.38
    •  
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 #: IV21151585
Last Updated: 07/12/2021
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