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19719 Westerly Drive Riverside, CA 92508

4 Beds 3 Baths 1,800 sqft Built 1992

$544,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $302.72
  • 6 Days on Market
  • MLS # : SW21054932
  • Updated Date : 03/17/2021 at 16:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Blue Jay Realty

Listing Agent's Description

Charming family home in the highly desired community of Orangecrest. This American farmhouse style 4 bedroom 2.5 bath dream has an open layout downstairs, complete with a fresh white kitchen, connected with the breakfast nook and family room area. To the rear of the family room is an extension of the living area through the back slider, with rear patio cover below the master bedroom deck. All solid surface flooring makes for easy upkeep and durability, and matches the decor and style both inside and out. Both yards are finished with tidy landscaping, with room for dogs and kids to play. The home design and finish is a draw in itself, but the location doesn't get any better. Located walking distance from multiple schools, parks, and shops.. in addition to being just minutes from multiple large freeways and large connecting roads such as Van Buren, Trautwein and Alessandro. Come see this American family farmhouse beauty before it's gone! Very LOW TAXES and NO HOA.

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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: 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
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9
Earhart Middle School Middle Unknown NA

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

Earhart Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$490,410$599,390$544,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,893
Property Tax -$519
Property Insurance -$71
Property Management Fees -$135
CASH FLOW
-$337

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.

$544,900

PROJECTED PRICE

$2,280

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

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$150,149

INVESTMENT

$150,149

Down Payment
$136,225
Rehab Estimate
$5,750
Closing Costs
$8,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,893

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,225
Loan Amount $408,675
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2804$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 19719 Westerly Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.27
    •  
  • 19954 Promenade Circle Riverside, CA 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
    •  
  • 19356 Lambeth Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1988
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.33
    •  
  • 19989 Caraway Lane Riverside, CA 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1992
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.28
    •  
  • 19975 Promenade Circle Riverside, CA 5
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
PROPERTY LISTING DETAILS
Jensen Kierulff
Blue Jay Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21054932
Last Updated: 03/17/2021
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