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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $316.14
- 6 Days on Market
- MLS # : IV21027229
- Updated Date : 02/09/2021 at 15:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,518 sqft
- Baths : 2 full
Listing Agent
National Realty Group
Listing Agent's Description
***COMPLETELY REMODELED SINGLE STORY HOME IN EXCELLENT NEIGHBORHOOD***VERY CLOSE TO SCHOOLS, SHOPPING, & PARKS***NEW QUARTZ COUNTERS IN KITCHEN***NEW DESIGNER PAINT INSIDE AND OUT***NEW, STYLISH 5 INCH BASEBOARDS THROUGHOUT***NEW TOILETS IN BOTH BATHROOMS***NEW STAINLESS STEEL DISHWASHER, DOUBLE DOOR BUILT-IN OVEN, COOKTOP, AND CEILING MOUNTED, EURO STYLE VENT HOOD IN KITCHEN***NEW LAMINATE FLOORING IN ENTRY, HALLWAY, LIVING ROOM, FAMILY ROOM, AND DINING AREA***NEW TILE FLOOR OUTSIDE OF FRONT ENTRY***TILE FLOORING IN KITCHEN & BOTH BATHROOMS*** MASTER BATHROOM SHOWER IS NEW WITH ELEGANT TILES AND LOOKS FABULOUS***NEW BATHROOM AND KITCHEN FAUCETS***NEW DECOR SWITCHES, OUTLETS, AND NEW GFCIS THROUGHOUT***UPGRADED CARPET IN ALL 3 BEDROOMS***OPEN AND AIRY FLOORPLAN HAS LARGE SEPERATE FAMILY ROOM AND NICELY SIZED DININBG AREA***NEWER WINDOWS THROUGHOUT***NEW DRIVE-THROUGH GATE ON SIDE OF HOME IS LIKE HAVING RV PARKING***ROLL UP GARAGE DOOR HAS NEW OPENER WITH 10 YEAR BATTERY BACKUP***GARAGE IS OVERSIZED, DRYWALLED NEW, AND HAS LOTS OF CABINETS FOR STORAGE***HALLWAY BATHROOM SHOWER/TUB IS FRESHLY RE-GLAZED AND JUST LIKE NEW***CHAIN LINK FENCE IN FRONT YARD AND ACROSS DRIVEWAY FOR EXTRA SECURITY***NEW LIGHTING FIXTURES INSIDE AND OUT***A/C AND FAU HAVE BEEN SERVICED AND RUN GREAT***HOME HAS LOTS OF NEW PLUMBING, ELECTRICAL, AND UPGRADES AND MUST SEE TO REALLY APPRECIATE***.25 ACRE LOT HAS LARGE BACKYARD AND LARGE PATIO AREA***HURRY AND SHOW, PROPERTY WILL SELL QUICKLY***
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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: Arlanza
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Arlanza
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,960 |
| EXPENSES | Loan Payment | -$1,667 |
| Property Tax | -$487 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$116 | |
|
CASH FLOW
-$373
|
||
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.
$479,900
PROJECTED PRICE
$1,960
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,924
LOAN DETAILS
$1,667
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $119,975 |
| Loan Amount | $359,925 |
1.58
YEARS SAVED
$4,504
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$1.29
LIST RENT PER SQFT
-
$2,152
COMP ESTIMATED VALUE -
$1.42
COMP AVG. RENT PER SQFT
Comps Range
-
9085 Randolph Street Riverside, CA 1
- 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1970
- Rent
- Rent Per SQFT
- $1,960
- $1.29
-
7182 Bradford Street Riverside, CA 2
- 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1988
LEASED 12/19/20- Rent
- Rent Per SQFT
- $2,000
- $1.47
-
7921 Carlyle Drive Riverside, CA 3
- 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1990
LEASED 05/23/20- Rent
- Rent Per SQFT
- $2,100
- $1.43
-
10120 Mandalay Court Riverside, CA 4
- 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976
LEASED 04/06/20- Rent
- Rent Per SQFT
- $2,195
- $1.38
-
8071 Townsend Drive Jurupa Valley, CA 5
- 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1985
LEASED 10/20/20- Rent
- Rent Per SQFT
- $2,350
- $1.39
PROPERTY LISTING DETAILS
National Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21027229
Last Updated: 02/09/2021
