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1670 Shelburne Lane Riverside, CA 92506

3 Beds 2 Baths 1,486 sqft Built 1985

$429,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $288.69
  • 3 Days on Market
  • MLS # : CV20234564
  • Updated Date : 11/06/2020 at 12:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,486 sqft
  • Baths : 2 full
Listing Agent

Century 21 Primetime Realtors

Listing Agent's Description

Gorgeous home located in the most highly desired neighborhood of Riverside, this home has so much to offer! In the Canyon Crest area of Riverside. Close to golf, restaurants and shopping! This home offers 3 spacious bedrooms and 2 full bathrooms. With a bedroom and bathroom on the first floor. Beautiful remodeled kitchen with quartz counter tops and high grade appliance throughout! Recently installed percaline tile flooring throughout the first level. The backyard is very spacious and great for entertaining, with recently laid cement, and an insulated alumawood patio!. Great community to raise children as this home is assigned to great schools K-12! Make your appointment today to view this great home!

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

Castle View Elementary School

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

$386,100$471,900$429,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,583
Property Tax -$411
Property Insurance -$63
HOA -$108
Property Management Fees -$129
CASH FLOW
-$113

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.

$429,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.51%

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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$21,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1803$2,2004$2,2955$2,600
$2,600
RENT COMPS ANALYSIS
  • 1670 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
    •  
    • $2,180
    • $1.47
    •  
  • 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
    •  
  • 2201 Trafalgar Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1978
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
  • 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
    •  
  • 184 Cannon Riverside, CA 5
    • 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 1988
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.42
    •  
PROPERTY LISTING DETAILS
Christopher Caballero
Century 21 Primetime Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20234564
Last Updated: 11/06/2020
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