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

3019 Cheyenne Road Riverside, CA 92506

3 Beds 2 Baths 1,515 sqft Built 1954

$499,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $329.37
  • 3 Days on Market
  • MLS # : IV21026923
  • Updated Date : 02/12/2021 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,515 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Meticulously maintained single-level, three bedroom home located in the highly desirable area of Riverside is ready for its new owners. Wood –like tile floors, new carpeting and new paint compliment the highly livable floor plan. The kitchen has been updated and features maple cabinets with a toffee finish, newer durable countertops, and separate eating area with plenty of natural lighting, great for entertaining. There is a mud room off the kitchen leading to the backyard. The spacious living room features a light-catching glass slider moving to the backyard. The patio has a ceiling fan, and relaxing private spa. Enjoy the spa after a long day with your favorite beverage. The owner’s suite features plush carpet, ceiling fan, ample closet space and an en-suite bathroom. Two of the secondary bedrooms are spacious with ample closet space. One bedroom is being used as a home office for owners who would like to work remotely from home. The secondary bathroom has been updated and features new cabinetry, granite countertops and bath/ shower combo. Other amenities include, attached garage, RV parking and amazing front curb appeal. This home is near Poly high school district, shopping, dining, entertainment and freeway access, this home is an ideal choice.

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: Sun Gold Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $139k490k

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

Neighborhood: Sun Gold Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9672265

* 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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,733
Property Tax -$483
Property Insurance -$64
Property Management Fees -$133
CASH FLOW
-$153

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.

$499,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$19,047

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,1453$2,2604$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3019 Cheyenne Road Riverside, CA 3
    • 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.49
    •  
  • 3096 Bautista Street Riverside, CA 1
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1952
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.46
    •  
  • 2835 Iron Hills Way Riverside, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.43
    •  
  • 3031 Horace Street Riverside, CA 4
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.47
    •  
  • 3524 Carlsbad Way Riverside, CA 5
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1952
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.50
    •  
PROPERTY LISTING DETAILS
Niema Thomas
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21026923
Last Updated: 02/12/2021
BESbswy