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19350 Castle Peak Drive Riverside, CA 92508

5 Beds 3 Baths 2,834 sqft Built 2001

$634,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $224.03
  • 9 Days on Market
  • MLS # : OC20262867
  • Updated Date : 12/26/2020 at 21:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,834 sqft
  • Baths : 3 full
Listing Agent

Lmb Enterprises

Listing Agent's Description

Welcome home to 19350 Castle Peak Drive, a beautiful 2834 sqf 5 bedroom 3 bath house in the highly desirable community of Orangecrest. This house which sits on one of the larger lots in the community at 8276 sqf embraces Southern California indoor/outdoor living. The front yard has well manicured landscaping and a stone walkway that leads to an open floor plan entrance consisting of a living room and formal dining room. Moving through the remaining downstairs which has great natural light and upgraded tile flooring leads to a large kitchen (with stainless steel appliances and an island which includes bar seating) and family room with a fireplace creating a "Great Room" across the back of the house. This great room if desired has the possibility of being converted into a downstairs 6th bedroom with neighboring full bathroom or office. The great room leads to the outdoor living in the backyard which not only houses a large covered porch with fans but also multiple fruit trees (fig/citrus), beautiful hardscaping/landscaping, and a pool/spa with a pebble finish and led lighting system offering multiple colored lights pending the desired mood. The remaining upstairs of the house has wood laminate flooring and houses a laundry room and 5 bedrooms/2 baths including a large master suite with jacuzzi soaking tub and large walk in closet. With speakers throughout, a peek-a-boo view of Big Bear Mountain and walking distance to schools and restaurants, this house has it all.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Benjamin Franklin Elementary School Primary Regular 838 33 8
Benjamin Franklin Elementary School Middle Regular 838 33 8
Martin Luther King High School High Regular 3,324 124 9

Benjamin Franklin Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 33
8
GreatSchools Rating

Benjamin Franklin Elementary School

  • Education Level: Middle
  • # of students: 838
  • # of teachers: 33
8
GreatSchools Rating

Martin Luther King High School

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

$571,410$698,390$634,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,343
Property Tax -$604
Property Insurance -$96
HOA -$129
Property Management Fees -$157
CASH FLOW
-$668

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.

$634,900

PROJECTED PRICE

$2,660

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$173,999

INVESTMENT

$173,999

Down Payment
$158,725
Rehab Estimate
$5,750
Closing Costs
$9,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,343

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,725
Loan Amount $476,175
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,728

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6503$2,6604$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 19350 Castle Peak Drive Riverside, CA 3
    • 5 beds 3 baths ∙ 2,834 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,834 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.94
    •  
  • 8688 Cabin Pl Riverside, CA 1
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2001
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
  • 8467 Deercreek Drive Riverside, CA 2
    • 5 beds 3 baths ∙ 2,680 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,680 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.99
    •  
  • 9249 San Rafael Arcangel Lane Riverside, CA 4
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.00
    •  
  • 15031 Wood Road Riverside, CA 5
    • 5 beds 3 baths ∙ 2,939 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,939 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jason Jurczyk
Lmb Enterprises
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20262867
Last Updated: 12/26/2020
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