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2020 Dolphin Street Riverside, CA 92506

4 Beds 2 Baths 2,027 sqft Built 1965

$585,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $288.60
  • 5 Days on Market
  • MLS # : IV20231416
  • Updated Date : 11/05/2020 at 12:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,027 sqft
  • Baths : 2 full
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

Turnkey residence in the heart of Canyon Crest. Meticulously maintained and well appointed two-story home with over 2,000 square feet of living space on 1/4 of an acre lot. California drought tolerant landscape, stone veneer and newer shingle siding, a covered front porch, and a beautiful front entry door provide for fantastic curb appeal. Beautiful stone tile and bamboo flooring downstairs, dual paned windows, spacious living room with fireplace, and an upgraded eat in kitchen with granite slab counters comprise the downstairs living space. The downstairs bedroom is adjacent to the full bathroom with tub, shower and vanity. Additionally downstairs, there is a den/office or optional 5th bedroom with walk-in closet that leads to the backyard. Upstairs has additional storage with the built-in cabinets, 3 guest bedrooms and a upgraded guest bathroom with dual vanities and a walk-in shower. The backyard is private and has a newer covered Alumawood patio cover, artificial turf lawn, mature landscaping, plants and trees. Additional features include: 2 car garage, brand new roof, newer energy efficient HVAC.

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: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

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
Castle View Elementary School Primary Regular 609 24 5
Castle View Elementary School Middle Regular 609 24 5
Poly High School High Regular 2,777 106 6

Castle View Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Castle View Elementary School

  • Education Level: Middle
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,158
Property Tax -$566
Property Insurance -$76
Property Management Fees -$147
CASH FLOW
-$458

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.

$585,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.8%
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$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$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,676

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4903$2,6504$2,6505$3,050
$3,050
RENT COMPS ANALYSIS
  • 2020 Dolphin Street Riverside, CA 2
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.23
    •  
  • 2201 Trafalgar Avenue Riverside, CA 1
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 1978
    property image
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
  • 1560 Country Club Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1967
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.38
    •  
  • 5957 Wimbledon Drive Riverside, CA 4
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.32
    •  
  • 6153 Bluffwood Drive Riverside, CA 5
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1977
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.31
    •  
PROPERTY LISTING DETAILS
Brent Lee
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20231416
Last Updated: 11/05/2020
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