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19137 Pemberton Place Riverside, CA 92508

3 Beds 3 Baths 1,708 sqft Built 1993

$399,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $233.61
  • 7 Days on Market
  • MLS # : IV20241086
  • Updated Date : 11/16/2020 at 16:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 2 full , 1 half
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

Beautiful two-story home in the desirable Woodbridge Community in the sought after Mission Grove neighborhood. Lovely open floor plan with Living room, dining room, powder room, and the cozy family room has a fireplace and is open to the kitchen with an eating area and breakfast bar. High vaulted ceiling leading upstairs to 3 bedrooms and 2 full baths. Bright and cheerful. The covered patio and low maintenance backyard is great for entertaining. Conveniently located near grocery stores, dining, great schools and freeway access. Please make appt. To show this lovely home after 10:00 am.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mission Grove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k603k

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

Neighborhood: Mission Grove

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,472
Property Tax -$383
Property Insurance -$69
HOA -$169
Property Management Fees -$129
CASH FLOW
-$32

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.

$399,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$25,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,220

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1903$2,2504$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 19137 Pemberton Place Riverside, CA 2
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.28
    •  
  • 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
    •  
  • 19256 White Dove Lane Riverside, CA 3
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.23
    •  
  • 7641 Botany Bay Road Riverside, CA 4
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.30
    •  
  • 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
Kathy Reeves
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20241086
Last Updated: 11/16/2020
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