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1641 Julia Way Riverside, CA 92501

3 Beds 3 Baths 2,056 sqft Built 2007

$499,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $242.70
  • 15 Days on Market
  • MLS # : OC21140298
  • Updated Date : 07/10/2021 at 10:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,056 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orion Real Estate

Listing Agent's Description

Welcome Home.  This gorgeous 3 bedrooms, 2 1/2 bath home with a spacious loft and built in shelving is turn key and ready to be yours.  Located in the gated community of La Rivera, this home boasts gorgeous wood laminate flooring, a luxurious master bath with tasteful upgrades throughout, crown molding, a beautifully handcrafted accent wall in master bedroom, and an overall modern look and feel.  This home includes laundry upstairs, a whole house fan, ceiling fans in each room, undermount lighting in kitchen, curb appeal, orange and lemon trees in the backyard with a covered patio, and so much more. Enjoy mountain views from your own backyard with the utmost privacy as there is no one behind you.Come take a look and fall in love with this upgraded gem.

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: Northside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $115k484k

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

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8912101

* 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
Central Middle School Middle Regular 713 31 3
John W. North High School High Regular 2,281 95 4
Central Middle School Middle Unknown NA

Central Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 31
3
GreatSchools Rating

John W. North High School

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

Central Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,733
Property Tax -$482
Property Insurance -$77
HOA -$155
Property Management Fees -$136
CASH FLOW
-$283

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.

$499,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.9%
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-$5.0k$0.0$5.0k$10k$15k

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,447

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4454$2,600
$2,600
RENT COMPS ANALYSIS
  • 1641 Julia Way Riverside, CA 2
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 4550 Nicole Way Riverside, CA 1
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 1795 Yvonne Court Riverside, CA 3
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $1.19
    •  
  • 1757 Carrie Way Riverside, CA 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.26
    •  
PROPERTY LISTING DETAILS
Latrice Deluna
Orion Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21140298
Last Updated: 07/10/2021
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