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20450 College Boulevard Riverside, CA 92507

3 Beds 2 Baths 1,856 sqft Built 1962

$479,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $258.08
  • 4 Days on Market
  • MLS # : TR21018353
  • Updated Date : 01/28/2021 at 10:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Homecoin.com

Listing Agent's Description

A beautiful home in a great neighborhood. if your looking for free flowing open space then this is your place. This home offers 3 bedrooms and 2.75 bathrooms on a very large lot; build a pool, entertain your friends, even park an RV on the side of the driveway, the possibilities are limitless. Completely move in ready this home has been well taken care of. As you move through this house there will be plenty of space and you will enjoy the easy flow, through the living room, dining room, kitchen, and family room. the bedrooms are situated well but offers privacy while utilizing space efficiently. there is plently of storage with double entry closets, a linen closet and an additional closet in the master bath room on top of the standard closets in each bedroom. the kitchen has fresh granite tops, a new cook top, dishwasher and kitchen sink. A great view of the large back yard is available from the kitchen window. the flooring. a combination of vinyl tile and high end carpet, is in excellent shape. The septic system has been checked and has passed certification. There is a covered patio in the back that has sliding glass doors from both the master bedroom and the family room. the house host a double fireplace with openings in the family room and the living room. This home is close to UCR in a quiet well maintained neighborhood. Sporting 1856 sq. ft. of ground floor living space on this large lot this beauty wont last. DON'T miss this opportunity!

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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: University City

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k531k

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

Neighborhood: University City

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672152

* 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
Seneca Elementary School Primary Regular 471 19 3
Vista Heights Middle School Middle Regular 1,414 51 5
Canyon Springs High School High Regular 2,488 96 5

Seneca Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 19
3
GreatSchools Rating

Vista Heights Middle School

  • Education Level: Middle
  • # of students: 1,414
  • # of teachers: 51
5
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,488
  • # of teachers: 96
5
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,664
Property Tax -$448
Property Insurance -$72
Property Management Fees -$137
CASH FLOW
$9

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.

$479,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$0.0$5.0k$10k$15k$20k

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$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,664

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$31,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3303$2,4004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 20450 College Boulevard Riverside, CA 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.26
    •  
  • 5050 Pearblossom Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 1969
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.30
    •  
  • 5439 Via Alberca Riverside, CA 3
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1980
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
  • 4207 Swain Court Riverside, CA 4
    • 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1960
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.26
    •  
  • 700 Via Zapata Riverside, CA 5
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1970
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.42
    •  
PROPERTY LISTING DETAILS
Jonathan Minerick
Homecoin.com
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21018353
Last Updated: 01/28/2021
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