Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1531 Ransom Road Riverside, CA 92506

5 Beds 2 Baths 1,944 sqft Built 1963

$599,900

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $308.59
  • 4 Days on Market
  • MLS # : EV20264942
  • Updated Date : 01/02/2021 at 16:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

Vandermeulen Investment Prop.

Listing Agent's Description

Gorgeous single level home in the Canyon Crest area. All new windows installed in 2015. Newer 800 sq foot Brazilian Ipe (wood) deck. Roof extension off the master suite with fan and lights, too. Such a great oversized level lot - over 1/3 acre!!! Whew!!! And, a phenomenal play yard and room for a future pool. And, the swing set stays! Sweet! 2nd fireplace in the master bedroom, too. Additional RV parking, too. Showings start on January 2nd at 9 a.m.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Castle View Elementary School Primary Regular 609 24 5
Castle View Elementary School Middle Regular 609 24 5
Poly High School High Regular 2,777 106 6

Castle View Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Castle View Elementary School

  • Education Level: Middle
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,213
Property Tax -$574
Property Insurance -$74
Property Management Fees -$150
CASH FLOW
-$472

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.

$599,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,503

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4004$2,5405$2,650
$2,650
RENT COMPS ANALYSIS
  • 1531 Ransom Road Riverside, CA 4
    • 5 beds 2 baths ∙ 1,944 Sqft ∙ Built 1963 5 beds 2 baths ∙ 1,944 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.31
    •  
  • 1214 Monte Vista Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1963
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.24
    •  
  • 5016 Tophill Place Riverside, CA 2
    • 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1960
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.31
    •  
  • 1253 Grossmont Drive Riverside, CA 3
    • 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 1972
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.28
    •  
  • 5957 Wimbledon Drive Riverside, CA 5
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.32
    •  
PROPERTY LISTING DETAILS
Sueellen Knapp
Vandermeulen Investment Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20264942
Last Updated: 01/02/2021
BESbswy