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4980 Red Rock Avenue Riverside, CA 92503

3 Beds 2 Baths 1,110 sqft Built 1978

$429,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $387.30
  • 5 Days on Market
  • MLS # : IV20253607
  • Updated Date : 01/13/2021 at 11:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Don't miss this incredible opportunity to own this gorgeous single story home, conveniently located near the Galleria at Tyler in Riverside!! As you enter, enjoy the long driveway and fantastic mature landscaping with tons of curb appeal. This great home features fresh paint and carpet, tasteful kitchen and a large living room with a warm and inviting fireplace. There is a sliding door with great views of the manicured yard with privacy walls and a covered patio. There are also 3 nice sized bedrooms with ample closet space, and the master bedroom has an en suite master bathroom. Also enjoy the oversized attached garage, side access and SO MUCH MORE! Close to schools, parks, shopping, entertainment, freeways and more. Act now before this amazing opportunity passes you by!

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: Arlanza

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $114k484k

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

Neighborhood: Arlanza

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8762101

* 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
Foothill Elementary School Primary Regular 602 26 4
Wells Middle School Middle Regular 922 37 2
Norte Vista High School High Regular 2,189 86 3

Foothill Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 26
4
GreatSchools Rating

Wells Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 37
2
GreatSchools Rating

Norte Vista High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 86
3
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,493
Property Tax -$438
Property Insurance -$54
Property Management Fees -$116
CASH FLOW
-$131

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.

$429,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 13.9%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9703$1,995
$1,995
RENT COMPS ANALYSIS
  • 4980 Red Rock Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.77
    •  
  • 10035 Hillsborough Lane Riverside, CA 1
    • 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.55
    •  
  • 6835 Farrier Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.52
    •  
PROPERTY LISTING DETAILS
Ryan Mckee
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20253607
Last Updated: 01/13/2021
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