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11094 Kayjay Street Riverside, CA 92503

4 Beds 2 Baths 2,302 sqft Built 1979

$640,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $278.02
  • 4 Days on Market
  • MLS # : 530104
  • Updated Date : 11/21/2020 at 05:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,302 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Victor Valley

Listing Agent's Description

Welcome to one of the most desired neighborhoods that Riverside county has to offer. Pride in ownership inside and out. Nestled at the end of a cul-de-sac in a well manicured neighborhood. This floor plan will work for your clients intimate family gatherings or large formal entertaining needs. 4- Bedroom 2- Bath . Open Floor Plan. 2302 SF Living Space. Endless opportunities with an unfinished CASITA. Could be a workshop or multi gen quarters. Beautiful custom inground pool and spa in a park like setting backyard with mature avocado and citrus trees. But wait there's MORE! bring your toys RV access too!! This property will not last long ... Hurry. -- Association Amenities: None # of RV Spaces: 0 Special Features: GH,GZNONE Lot Location Type: Standard Location # of Attached Spaces: 3 # of Detached Spaces: 0

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: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k518k

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

Neighborhood: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9542106

* 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
Lake Hills Elementary School Primary Regular 832 32 9
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown 1,353 53 NA

Lake Hills Elementary School

  • Education Level: Primary
  • # of students: 832
  • # of teachers: 32
9
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$576,000$704,000$640,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,361
Property Tax -$633
Property Insurance -$83
Property Management Fees -$149
CASH FLOW
-$697

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.

$640,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,728

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,5304$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 11094 Kayjay Street Riverside, CA 3
    • 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.10
    •  
  • 2730 Mcallister Street Riverside, CA 1
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1966
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
  • 11541 Victoria Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 2,125 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,125 Sqft ∙ Built 1989
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.15
    •  
  • 11123 Liverpool Lane Riverside, CA 4
    • 5 beds 3 baths ∙ 2,134 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,134 Sqft ∙ Built 1989
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.22
    •  
  • 16220 Stonehill Court Riverside, CA 5
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1990
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.22
    •  
PROPERTY LISTING DETAILS
Peggy Thatcher
Keller Williams Victor Valley
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 530104
Last Updated: 11/21/2020
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