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14391 Wood Road Riverside, CA 92508

4 Beds 2 Baths 2,065 sqft Built 1962

INVESTimate

$578,000

List Price

$2,570

$2,320 - $2,820

Rent Est.

$604,126  ( +4.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $279.90
  • 7 Days on Market
  • MLS # : IV20170623
  • Updated Date : 08/22/2020 at 09:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,065 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Riverside Cent

Listing Agent's Description

Hard to find home located on almost 2 acres of property in Orangecrest! This property is amazing! New flooring and paint throughout. Newly renovated kitchen with refinished cabinetry, granite counters and appliances. Living room has tall ceilings and a cozy, over sized rock fireplace. 4 large bedrooms with ceiling fans and they are very spacious. There is also an open office area that could be a 5th bedroom! All of this on just under two open, flat acres. Hard to find in Orangecrest. There is even a small splash pool with slide too. Zoned for the very best schools in Riverside, King high school, Earhart Middle school and JFK elementary school. Located close to the Mission Grove plaza which has amazing retardants, shopping and the Luxury Galaxy movie theater. Parks and recreational centers nearby as well as close freeway access. This property offers everything. Make your appointment to view today!

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: Alessandro Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $144k1048k

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

Neighborhood: Alessandro Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600280030003200340036003800Rent in $9673843

* 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
Kennedy Elementary School Primary Regular 1,090 40 7
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Kennedy Elementary School

  • Education Level: Primary
  • # of students: 1,090
  • # of teachers: 40
7
GreatSchools Rating

Earhart Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 37
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating
 

$520,200$635,800$578,000

PURCHASE PRICE

$2,313$2,827$2,570

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,133
Property Tax -$547
Property Insurance -$77
Property Management Fees -$152
CASH FLOW
-$338

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.

$578,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.52%
Maintenance Year (1-5) 8.00%
Vacancy 5.03%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,920

INVESTMENT

$158,920

Down Payment
$144,500
Rehab Estimate
$5,750
Closing Costs
$8,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,133

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,500
Loan Amount $433,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$16,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,574

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,5704$2,700
$2,700
RENT COMPS ANALYSIS
  • 14391 Wood Road Riverside, 3
    • 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.24
    •  
  • 1253 Grossmont Drive Riverside, 1
    • 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 1972
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.28
    •  
  • 17845 Roberts Road Riverside, 2
    • 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 1979
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.14
    •  
  • 18085 Gentian Avenue Riverside, 4
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1977
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.32
    •  
PROPERTY LISTING DETAILS
Diane Frank
Keller Williams Riverside Cent
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20170623
Last Updated: 08/22/2020
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