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20411 E Main Street Riverside, CA 92507

6 Beds 4 Baths 2,691 sqft Built 2018

$565,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $209.96
  • 11 Days on Market
  • MLS # : IV21020830
  • Updated Date : 02/12/2021 at 12:05
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,691 sqft
  • Baths : 3 full , 1 half
Listing Agent

Crest Sotheby's International Realty

Listing Agent's Description

Gorgeous 2018 D.R. Horton home. Welcome to The Heights. Nestled among the foot hills and donkeys, on a premium lot at 11,326 sq. ft, with spectacular views out of every window! This home features a 2691 and has 6 Bedrooms with 3.5 baths. A down stairs junior suite that includes a walk in closet and it’s own bathroom. Amazing open floor plan and a beautiful kitchen, with stainless steel appliances. Large island, quartz counter tops and a large walk in pantry. The upstairs loft was built into a bedroom with a walk in closet and both of the bathrooms upstairs have double vanities. This home has so much storage space. Save on your electricity in the hot summers with a solar lease of $105.24 per month. A great savings to cool down this large home! 2 car garage with extra cement to park or potential RV parking. Water conserving landscaping, back yard has a patio and steps out to a fire pit. Terrific location! Close to 215 freeway, UCR, and Down town.

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: Highgrove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Highgrove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9112237

* 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
University Heights Middle School Middle Regular 824 36 4
John W. North High School High Regular 2,281 95 4
University Heights Middle School Middle Unknown NA

University Heights Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 36
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating

University Heights Middle School

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

$508,500$621,500$565,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$1,962
Property Tax -$553
Property Insurance -$92
HOA -$68
Property Management Fees -$204
CASH FLOW
$581

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.

$565,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$95,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $3,418

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,460
$3,460
RENT COMPS ANALYSIS
  • 20411 E Main Street Riverside, CA 2
    • 6 beds 4 baths ∙ 2,691 Sqft ∙ Built 2018 6 beds 4 baths ∙ 2,691 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $1.29
    •  
  • 20921 Barn Rd Riverside, CA 1
    • 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 2018
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Brittney Jeanson
Crest Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21020830
Last Updated: 02/12/2021
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