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

1539 Jameson Court Riverside, CA 92507

4 Beds 3 Baths 2,617 sqft Built 1998

$575,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $219.72
  • 4 Days on Market
  • MLS # : IG21006163
  • Updated Date : 01/14/2021 at 16:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,617 sqft
  • Baths : 3 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

This home is located in the sought after neighborhood of Sycamore Highlands Homes. This home has four bedrooms and two bathrooms upstairs and one office/bedroom downstairs with a full hall bathroom. There is carpet and ceramic tile floors throughout this home. Cozy family room with a fireplace and open to the kitchen is great for family gatherings. Bright formal dinning room and living room. Very large upstairs Master Bedroom and Master bath with a large walk-In closet. Backyard has a covered patio and fruit trees. Good size downstairs laundry room and a three car garage. This home is close to Sycamore Highlands Park and nearby Sycamore Canyon Wilderness Park area with its hiking, biking trails and gorgeous views and it's only minutes away from UCR campus, shopping, theaters & dining at the beautiful Canyon Crest Towne Center. Close to freeway access and NO HOA!! Don't miss out on this great opportunity.

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
Emerson Elementary School Primary Regular 798 32 4
Emerson Elementary School Middle Regular 798 32 4
John W. North High School High Regular 2,281 95 4

Emerson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

Emerson Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,997
Property Tax -$562
Property Insurance -$91
Property Management Fees -$155
CASH FLOW
-$175

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.

$575,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.46%

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-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$22,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,652

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,2503$2,6304$3,100
$3,100
RENT COMPS ANALYSIS
  • 1539 Jameson Court Riverside, CA 3
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.00
    •  
  • 21484 Dickinson Road Moreno Valley, CA 1
    • 5 beds 3 baths ∙ 2,321 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,321 Sqft ∙ Built 1990
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.89
    •  
  • 21129 Dickinson Road Moreno Valley, CA 2
    • 5 beds 3 baths ∙ 2,321 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,321 Sqft ∙ Built 1990
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 1427 Kirkmichael Circle Riverside, CA 4
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1998
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.18
    •  
PROPERTY LISTING DETAILS
Nancy Whyte
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21006163
Last Updated: 01/14/2021
BESbswy