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4804 Charlotte Way Riverside, CA 92504

3 Beds 2 Baths 1,281 sqft Built 1927

$509,990

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1927
  • Price/Sqft : $398.12
  • 2 Days on Market
  • MLS # : IV20259787
  • Updated Date : 12/19/2020 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,281 sqft
  • Baths : 2 full
Listing Agent

Century 21 Lois Lauer Realty

Listing Agent's Description

Honey Stop The Car!!! : ) Did we just find a house that we can call home?? Well yes we did!! Welcome to this WOODSTREET Classic Craftsman Home in this high in demand area of the City of Riverside. This home has gone through an extensive makeover through the years and now has the Modern Features that you require in a home. This is a 3 Bedroom, 2 Full Bathroom home with modern rustic flooring and 8 inch wood molding throughout the home. This warm and inviting floor plan is perfect for your family that includes a Ship-Lap Custom Wall in the Living Room. Upgraded Kitchen and will include ALL appliances!!! Separate indoor Laundry Room that is large enough to be a perfect office, retreat or playroom!!. Central Air and Heat, Full Hallway Bathroom, two spacious guest Bedrooms with custom built closets and wait till you see the large Master Suite with a Full Bathroom, Large closets with custom design!! Master Bedroom has french doors that exit to a large covered patio and as you walk through the doors you will find a huge back yard that has a park like setting with lush green grass, mature trees and a fire pit!! You also have a Two Car Over Sized Garage that is detached from the home. Home is just a few minutes to downtown Riverside, the 91 Freeway, ALL services and Schools including UCR. The features go on and on! Please schedule an appointment to see this Modern Rustic Home with numerous custom upgrades and hope to see you in escrow!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grand Avenue Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550kPrice in $99k584k

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

Neighborhood: Grand Avenue Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $8222496

* 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
Mountain View Elementary School Primary Regular 763 28 5
Mountain View Elementary School Middle Regular 763 28 5
Poly High School High Regular 2,777 106 6

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 28
5
GreatSchools Rating

Mountain View Elementary School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 28
5
GreatSchools Rating

Poly High School

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

$458,991$560,989$509,990

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,882
Property Tax -$497
Property Insurance -$58
Property Management Fees -$112
CASH FLOW
-$649

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.

$509,990

PROJECTED PRICE

$1,900

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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

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$140,897

INVESTMENT

$140,897

Down Payment
$127,498
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,498
Loan Amount $382,493
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$565

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9004$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 4804 Charlotte Way Riverside, CA 3
    • 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1927 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1927
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.48
    •  
  • 3908 Ramona Drive Riverside, CA 1
    • 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 2
    • 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 4
    • 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
    •  
  • 4285 Oakwood Place Riverside, CA 5
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1939
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.58
    •  
PROPERTY LISTING DETAILS
Kenneth Adkins
Century 21 Lois Lauer Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20259787
Last Updated: 12/19/2020
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