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4494 Elmwood Court Riverside, CA 92506

3 Beds 2 Baths 1,600 sqft Built 1926

$520,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $325.00
  • 37 Days on Market
  • MLS # : CV21033686
  • Updated Date : 03/26/2021 at 10:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Ehomes

Listing Agent's Description

Location * Location * Location* "Wood Streets" Adorable Two Story Home. Fenced front yard for privacy. Located on a corner lot. Step onto the front porch and enjoy the beautiful view of Mt. Rubidoux. Perfect during the 4th of July firework display. Newer exterior & interior paint. Interior offers 1 bedroom upstairs and 1 full bathroom upstairs with original claw foot tub. Downstairs offers 1 bathroom and 1 bedroom. 2 additional bonus rooms that can be used for office, bedroom, gym, nursery, or man cave. Inside laundry room. Back guest home offers a full bathroom, kitchenette, bedroom & living room with heating and has it's own private parking area with private yard. Large backyard perfect for entertaining. Ample drive way for RV parking and lots of parking space. Centrally located near Historic Downtown Riverside, Mission Inn, Mt. Rubidoux, RCC, Restaurants, Shopping, Schools, Churches and freeway friendly.

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: Brockton Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $111k484k

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

Neighborhood: Brockton Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7882101

* 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
 

$468,000$572,000$520,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,806
Property Tax -$507
Property Insurance -$66
Property Management Fees -$115
CASH FLOW
-$544

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.

$520,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.0%
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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,240

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,000
$2,000
RENT COMPS ANALYSIS
  • 4494 Elmwood Court Riverside, CA 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1926
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.22
    •  
  • 4327 Jurupa Avenue Riverside, CA 1
    • 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
    •  
  • 4222 Linwood Place Riverside, CA 3
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1941
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.35
    •  
PROPERTY LISTING DETAILS
Liz Lee
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21033686
Last Updated: 03/26/2021
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