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18890 Krameria Avenue Riverside, CA 92508

4 Beds 3 Baths 2,700 sqft Built 2005

$539,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $199.63
  • 7 Days on Market
  • MLS # : IV20226770
  • Updated Date : 10/30/2020 at 21:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Crest Sotheby's International Realty

Listing Agent's Description

Gorgeous Mission Ranch two story home. Spacious floor plan at 2700 sq ft. Open kitchen with walk in pantry, open to family room. Beautiful wood laminate water resistant flooring, all new interior paint, and whole house fan. Formal living room and bathroom downstairs. 4 large bedrooms upstairs, and 2 large bathrooms with double vanities. Large main Bedroom that has 2 large walk in-his and hers closets. Laundry room upstairs. Back yard is a blank canvas to make an entertaining paradise, huge flat and usable lot at 9148 sq ft, with nice patio cover and hardscaped. A nice space to build a custom pool. 3 car garage and cemented driveway for extra parking. Freshly painted outdoor shutter, front and garage doors, security cameras and camera doorbell included. This is an excellent location and walking distance to award winning and highly rated schools in the Martin Luther King District, both high school, Jr. high and elementary, as well as the best private school in Riverside, Woodcrest Christian School. Close to all amenities and 215,60 and 91 freeways.

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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: Orangecrest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k610k

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

Neighborhood: Orangecrest

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
Mark Twain Elementary School Primary Regular 1,093 41 8
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Martin Luther King High School High Regular 3,324 124 9

Mark Twain Elementary School

  • Education Level: Primary
  • # of students: 1,093
  • # of teachers: 41
8
GreatSchools Rating

Frank Augustus Miller Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 40
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,989
Property Tax -$515
Property Insurance -$93
HOA -$30
Property Management Fees -$145
CASH FLOW
-$311

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.

$539,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$14,776

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,491

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4603$2,4954$2,5955$2,800
$2,800
RENT COMPS ANALYSIS
  • 18890 Krameria Avenue Riverside, CA 2
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.91
    •  
  • 18302 Blue Sky Street Riverside, CA 1
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
  • 9349 Golden Lantern Road Riverside, CA 3
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.92
    •  
  • 9410 Newbridge Drive Riverside, CA 4
    • 4 beds 2 baths ∙ 2,870 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,870 Sqft ∙ Built 2005
    property image
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
  • 9417 Turnbridge Riverside, CA 5
    • 4 beds 3 baths ∙ 2,870 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,870 Sqft ∙ Built 2009
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Brittney Jeanson
Crest Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20226770
Last Updated: 10/30/2020
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