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5388 Rochester Street Riverside, CA 92504

3 Beds 2 Baths 1,424 sqft Built 1954

$445,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $312.50
  • 2 Days on Market
  • MLS # : SW20229955
  • Updated Date : 11/02/2020 at 09:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,424 sqft
  • Baths : 1 full , 1 half
Listing Agent

Better Realty Group

Listing Agent's Description

Don't miss this opportunity to make this single story pool home yours! Very clean 3 bed 1.5 bath home has an open floor plan on a large 9500 square foot lot. The kitchen was recently updated with custom countertop, glass tile backsplash and stainless appliances. Custom kitchen island connects to the dining area. Large family room with original hardwood floors opens to the dining/kitchen making this the ideal spot for family gatherings. Slider opens to the huge backyard with an enormous pool. This is an entertainers backyard. Two car attached garage plus a good sized driveway offer plenty of space for your toys and cars. Come see what this home has to offer your family.

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: Moneta Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Moneta Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8652101

* 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
Jefferson Elementary School Primary Regular 910 35 5
Jefferson Elementary School Middle Regular 910 35 5
Ramona High School High Magnet 2,160 85 4

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 35
5
GreatSchools Rating

Jefferson Elementary School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 35
5
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,642
Property Tax -$431
Property Insurance -$62
Property Management Fees -$113
CASH FLOW
-$327

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.

$445,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,008

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,9204$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 5388 Rochester Street Riverside, CA 3
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.35
    •  
  • 6729 Burnside Court Riverside, CA 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.33
    •  
  • 4214 Adams Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 4770 Gardena Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.42
    •  
  • 5935 Grand Avenue Riverside, CA 5
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.47
    •  
PROPERTY LISTING DETAILS
Ryan Smith
Better Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20229955
Last Updated: 11/02/2020
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