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18800 Roberts Road Riverside, CA 92508

3 Beds 2 Baths 1,956 sqft Built 1972

INVESTimate

$624,888

List Price

$2,420

$2,178 - $2,662

Rent Est.

$666,381  ( +6.64%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1972
  • Price/Sqft : $319.47
  • 10 Days on Market
  • MLS # : IG20166360
  • Updated Date : 08/18/2020 at 14:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

HORSE PROPERTY ON OVER AN ACRE WITH A POOL IN RIVERSIDE! BRAND NEW HVAC SYSTEM AND ALL NEW DUCTING less than 2 weeks old! A beautiful three bedroom three bath single story home with many upgrades will not last so act quickly! This 1.04 acre is nestled right in the middle of Mission Grove, Orangecrest and Woodcrest. Home appears to be Spanish style contemporary. Enter through the electronic security gate, you'll see there is plenty of room for an RV and obviously horse trailers as well. The decorative garage door complements the color scheme and style of this home very well. Upon entering the front door you will notice the spacious living room off to the right hand side. Straight ahead you'll see another open and airy room that is currently used for a pool table and has direct access to the back porch and pool area. Down the hall to the left you will Find the master bedroom and the beautifully upgraded master bathroom with two shower heads including a rainfall from the ceiling. Across the hall you will find the additional large bedroom and the third is currently being used as an office. The kitchen is fully upgraded with granite counters and backsplash and a very unique country style full copper sink. For the wine enthusiast there is even a wine fridge built in to the counter. As you enter the backyard you will notice the entire property is entirely white picket fenced and continues to the back arena and eight stall barn. Full feed/tack area and pipe corrals.

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: Olive Grove Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k628k

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

Neighborhood: Olive Grove Park

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
Kennedy Elementary School Primary Regular 1,090 40 7
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Kennedy Elementary School

  • Education Level: Primary
  • # of students: 1,090
  • # of teachers: 40
7
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
 

$562,399$687,377$624,888

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,306
Property Tax -$582
Property Insurance -$75
Property Management Fees -$143
CASH FLOW
-$685

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.

$624,888

PROJECTED PRICE

$2,420

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.64%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,345

INVESTMENT

$171,345

Down Payment
$156,222
Rehab Estimate
$5,750
Closing Costs
$9,373

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $156,222
Loan Amount $468,666
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$2,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,479

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,4204$2,7005$2,850
$2,850
RENT COMPS ANALYSIS
  • 18800 Roberts Road Riverside, 3
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.24
    •  
  • 19954 Promenade Circle Riverside, 1
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1990
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
  • 15060 Pauls Lane Riverside, 2
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1988
    LEASED 03/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.18
    •  
  • 18085 Gentian Avenue Riverside, 4
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1977
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.32
    •  
  • 14391 Wood Road Riverside, 5
    • 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 1962 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 1962
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.38
    •  
PROPERTY LISTING DETAILS
Mia Waldron
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20166360
Last Updated: 08/18/2020
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