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6414 Alton Street Riverside, CA 92509

3 Beds 2 Baths 1,363 sqft Built 1957

INVESTimate

$399,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$433,992  ( +8.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $292.74
  • 7 Days on Market
  • MLS # : OC20171122
  • Updated Date : 08/22/2020 at 12:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,363 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Occ Realty

Listing Agent's Description

Beautifully updated single story 3 bedroom, 2 bath property! Kitchen has new quartz countertops, stainless steel appliances, and beautiful white cabinetry. Enjoy this open floor plan which kitchen, dining room and family room seamlessly flow together. Bathrooms have beautiful tiled showers, with the master bath offering a tub and new quartz vanity countertops. All bedrooms have new flooring and spacious closets. Enjoy your great location next to schools, and conveniently located near 60 and 15 freeways, trails, schools, restaurants and more!

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: Rubidoux Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k484k

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

Neighborhood: Rubidoux Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8882101

* 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
Rustic Lane Elementary School Primary Regular 676 30 4
Rustic Lane Elementary School Middle Regular 676 30 4
Rubidoux High School High Regular 1,629 67 4

Rustic Lane Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 30
4
GreatSchools Rating

Rustic Lane Elementary School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 30
4
GreatSchools Rating

Rubidoux High School

  • Education Level: High
  • # of students: 1,629
  • # of teachers: 67
4
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,472
Property Tax -$391
Property Insurance -$60
Property Management Fees -$112
CASH FLOW
-$135

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.

$399,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.77%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$17,023

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
  • $1.39

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1003$2,400
$2,400
RENT COMPS ANALYSIS
  • 6414 Alton Street Riverside, 1
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.39
    •  
  • 8000 Paisano Way Riverside, 2
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1977
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
  • 6880 Abel Stearns Avenue Riverside, 3
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973
    property image
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
PROPERTY LISTING DETAILS
Ryan Maxwell
Keller Williams Occ Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20171122
Last Updated: 08/22/2020
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