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2249 Trafalgar Avenue Riverside, CA 92506

4 Beds 3 Baths 2,249 sqft Built 1978

$599,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $266.74
  • 3 Days on Market
  • MLS # : IV21028547
  • Updated Date : 02/12/2021 at 15:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 2 full , 1 half
Listing Agent

Box Properties

Listing Agent's Description

Perfect 4 bedroom 2.5 bathroom home is waiting for you! Located in one of the best areas in Riverside. These homes do not come on the market often. This two story pool home is gorgeous. The huge Kitchen has been recently updated and offers tons of amenities. Under cabinet lighting, slide out shelving and build in recycling area. Large island with lots of prep space as well as seating at the peninsula. Kitchen opens into the large family room with unique fireplace. Dining and living area is open and spacious with lots of natural light. Plantation shutters throughout the house. Master bedroom has plenty of space for a retreat area. Newer energy efficient windows as well. Back yard has a huge pool and spa adjacent to the outdoor kitchen! Fruit trees abound in this yard along with an actual place for a vegetable garden. Front yard is a professionally installed drought tolerant landscape that's inviting to its human residents, but also many hummingbirds. Large Side yard has accommodated the perfect spot for an RV. You won't want to miss the opportunity to make this your home.

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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: 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
Gage Middle School Middle Regular 1,004 40 4
Poly High School High Regular 2,777 106 6

Gage Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 40
4
GreatSchools Rating

Poly High School

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

$539,910$659,890$599,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,084
Property Tax -$580
Property Insurance -$82
Property Management Fees -$155
CASH FLOW
-$271

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.

$599,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.44%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,716

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6003$2,6304$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 2249 Trafalgar Avenue Riverside, CA 3
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.17
    •  
  • 1526 Tonia Court Riverside, CA 1
    • 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1987
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.22
    •  
  • 6374 Jaguar Drive Riverside, CA 2
    • 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 1988
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
  • 1537 Tonia Court Riverside, CA 4
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.21
    •  
  • 1508 Via Vista Drive Riverside, CA 5
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
PROPERTY LISTING DETAILS
Tina Hambleton
Box Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21028547
Last Updated: 02/12/2021
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