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1643 Shelburne Lane Riverside, CA 92506

3 Beds 2 Baths 1,486 sqft Built 1985

$449,990

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $302.82
  • 8 Days on Market
  • MLS # : IV21015603
  • Updated Date : 01/25/2021 at 17:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,486 sqft
  • Baths : 2 full
Listing Agent

Milestone Realty Group

Listing Agent's Description

This beautiful three bedroom, two bath riverside gem has it all. Upon entering you'll see the inviting floorplan with a spacious living and dining area that flows into the kitchen. The first level has a master bedroom and full bath. Upstairs there are two large bedrooms and another full bathroom. The bedroom over the garage is oversized and features two separate closets. The backyard is perfect for entertaining and is a great size with newer vinyl fencing that surround the property. Some interior upgrades include new vinyl flooring and window shutters. This welcoming home is located in the very desired neighborhood of Canyon Crest.

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
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9
Earhart Middle School Middle Unknown NA

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

Earhart Middle School

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

$404,991$494,989$449,990

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,563
Property Tax -$431
Property Insurance -$63
HOA -$128
Property Management Fees -$126
CASH FLOW
-$171

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.

$449,990

PROJECTED PRICE

$2,140

PROJECTED RENT

0.48%

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

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,997

INVESTMENT

$124,997

Down Payment
$112,498
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,498
Loan Amount $337,493
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1403$2,2004$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 1643 Shelburne Lane Riverside, CA 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.44
    •  
  • 19214 Vintage Woods Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1994
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.36
    •  
  • 2258 El Capitan Drive Riverside, CA 3
    • 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1972
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 5371 Velo Court Riverside, CA 4
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1985
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.29
    •  
  • 19281 Foxtail Lane Riverside, CA 5
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
PROPERTY LISTING DETAILS
Adrian Jimenez
Milestone Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21015603
Last Updated: 01/25/2021
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