Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2335 9th Street Riverside, CA 92507

3 Beds 1 Baths 1,158 sqft Built 1900

$369,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1900
  • Price/Sqft : $318.65
  • 6 Days on Market
  • MLS # : TR20249324
  • Updated Date : 12/02/2020 at 10:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,158 sqft
  • Baths : 1 full
Listing Agent

Dynasty Realty

Listing Agent's Description

Beautiful charming home in Riverside on a large open lot with all kinds of potential. Home is in prime location with convenient access to all major freeways and only 10 minutes away from UC Riverside. The two-story home features 3 beds, 1 baths, as well as a full kitchen and front yard with new landscaping. Windows have just been upgraded along with new copper plumbing and fresh paint. SOLD AS IS ~ Come see to appreciate, this one will be priced to sell!

SEE MORE

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: Garfield Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $84k484k

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

Neighborhood: Garfield Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7292101

* 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
Pachappa Elementary School Primary Regular 778 31 7
Pachappa Elementary School Middle Regular 778 31 7
Poly High School High Regular 2,777 106 6

Pachappa Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 31
7
GreatSchools Rating

Pachappa Elementary School

  • Education Level: Middle
  • # of students: 778
  • # of teachers: 31
7
GreatSchools Rating

Poly High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,361
Property Tax -$360
Property Insurance -$55
Property Management Fees -$113
CASH FLOW
$31

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.

$369,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$30,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.66

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8953$1,9204$2,400
$2,400
RENT COMPS ANALYSIS
  • 2335 9th Street Riverside, CA 3
    • 3 beds 1 baths ∙ 1,158 Sqft ∙ Built 1900 3 beds 1 baths ∙ 1,158 Sqft ∙ Built 1900
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.66
    •  
  • 2514 6th Street Riverside, CA 1
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1908 3 beds 1 baths ∙ 960 Sqft ∙ Built 1908
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.95
    •  
  • 4474 6th Street Riverside, CA 2
    • 3 beds 1 baths ∙ 991 Sqft ∙ Built 1906 3 beds 1 baths ∙ 991 Sqft ∙ Built 1906
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.91
    •  
  • 2384 9th Street Riverside, CA 4
    • 3 beds 1 baths ∙ 1,408 Sqft ∙ Built 1913 3 beds 1 baths ∙ 1,408 Sqft ∙ Built 1913
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.70
    •  
PROPERTY LISTING DETAILS
Jessica Huang
Dynasty Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20249324
Last Updated: 12/02/2020
BESbswy