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

1763 Bigelow Road Riverside, CA 92506

4 Beds 2 Baths 2,031 sqft Built 1985

$625,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $307.73
  • 3 Days on Market
  • MLS # : IV20238580
  • Updated Date : 11/14/2020 at 08:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,031 sqft
  • Baths : 2 full
Listing Agent

Grove Realty

Listing Agent's Description

Fantastic single story home located in a well established and quiet neighborhood. Large front yard with nice landscaping. Some great interior features of this home include recessed lighting, granite counters, ceiling fans, vaulted ceilings, and wood look tile throughout general areas/carpet in bedrooms. There are a lot of windows which make the home light and bright! Both bathrooms have been recently remodeled with newer vanities, hardware and showers! There are 4 bedrooms total, with an additional bonus room which would be great for "work at home", "school at home", gym, etc. Indoor laundry room for added convenience. There is lots of shade in the afternoon which keeps the home cool. The backyard is perfect for entertainers and includes a large patio which has plenty of room for outdoor furniture, a sparkling pool with a diving board, lounge area and grass area which is perfect for kids or pets to play! Two car garage with plenty of extra parking space in the driveway and RV access. There is a new wood shed in the backyard, as well as a lemon and orange tree. There is no house in front or behind which is perfect for privacy. SOLAR! There is a paid-for home solar system as well as solar for the pool. The garage is large and has wood shelving which is great for extra storage. No HOA and LOW taxes! Do not miss out on this one.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Victoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Victoria

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
Alcott Elementary School Primary Regular 772 31 5
Alcott Elementary School Middle Regular 772 31 5
Poly High School High Regular 2,777 106 6

Alcott Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 31
5
GreatSchools Rating

Alcott Elementary School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 31
5
GreatSchools Rating

Poly High School

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

$562,500$687,500$625,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,306
Property Tax -$605
Property Insurance -$76
Property Management Fees -$154
CASH FLOW
-$531

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.

$625,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 9.6%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,742

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6103$2,6504$2,6505$2,650
$2,650
RENT COMPS ANALYSIS
  • 1763 Bigelow Road Riverside, CA 2
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.29
    •  
  • 1350 Le Conte Drive Riverside, CA 1
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1979
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.28
    •  
  • 1560 Country Club Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1967
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.38
    •  
  • 1585 Country Club Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1967
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.42
    •  
  • 5957 Wimbledon Drive Riverside, CA 5
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.32
    •  
PROPERTY LISTING DETAILS
Marni Jimenez
Grove Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20238580
Last Updated: 11/14/2020
BESbswy