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19222 Marmalade Court Riverside, CA 92508

5 Beds 3 Baths 2,400 sqft Built 1989

$599,999

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $250.00
  • 4 Days on Market
  • MLS # : SW21004232
  • Updated Date : 01/07/2021 at 21:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,400 sqft
  • Baths : 3 full
Listing Agent

Prw Real Estate

Listing Agent's Description

Welcome Home! Located in the heart of Orangecrest, this turnkey property rests on a cul-de-sac street. Local traffic only! Notice the terrific curb appeal as you pull into your driveway. Open the door to your new home and see the lush entry with a stunning staircase, custom tile flooring, and a formal living room and dining room. The first floor features an office/den and a full bathroom with custom cabinets and granite a countertop that matches the kitchen cabinets and countertop. To the left and down the hall, you will see the nice sized family room that has a fireplace, perfect for those cozy evenings. The near new kitchen overlooks the family room and has ample sized cabinet and counter space, pantry, stainless steel appliances, a breakfast nook, and a direct entry into the formal dining room. Upstairs, there are 4 bedrooms. Two standard sized bedrooms, and a large bonus bedroom at the end of the hall, and a full-sized bathroom. At the other end of the hall, the master bedroom awaits. This bedroom is huge and can accommodate nearly any sized bedroom suit. There is a sliding glass door that leads to the balcony, which overlooks the large backyard. The master bedroom also features a large walk in closet, and a highly upgraded bathroom with bathtub, shower, and dual sinks. The back yard is perfect for any occasion, and has a covered patio, firepit, and a side area for storage, pet’s etc. This home also has RV parking that can accommodate an RV AND a boat!

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: 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
 

$539,999$659,999$599,999

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,084
Property Tax -$571
Property Insurance -$85
Property Management Fees -$149
CASH FLOW
-$359

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.

$599,999

PROJECTED PRICE

$2,530

PROJECTED RENT

0.42%

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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$11,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,658

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5303$2,6004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 19222 Marmalade Court Riverside, CA 2
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.05
    •  
  • 19234 Marmalade Ct Riverside, CA 1
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
  • 19429 Rotterdam Street Riverside, CA 3
    • 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 2001
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
  • 19284 Krameria Avenue Riverside, CA 4
    • 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 1992
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
  • 19665 Tarocco Lane Riverside, CA 5
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1988
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.17
    •  
PROPERTY LISTING DETAILS
Richard Heitzwebel
Prw Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21004232
Last Updated: 01/07/2021
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