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3052 Wickham Drive Riverside, CA 92503

3 Beds 2 Baths 1,291 sqft Built 1984

$515,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $398.92
  • 5 Days on Market
  • MLS # : PW21062102
  • Updated Date : 03/25/2021 at 09:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,291 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

You must see this Turnkey Home! One of The Best Home in the neighborhood! Hills View! Spacious and Bright, this impressive home features limitless Top of The Line upgrades! Quartzite Stone in front and patio area. New Stucco. Marble floor in Dinning Room. Large gourmet kitchen with marble counter-tops, marble floor and wall, custom made marble island with double waterfall, integrated marble sink, new cabinets and Stainless-Steel appliances. Bamboo floor and crown molding throughout the home. A generous sized Living Room with custom fireplace. Upgraded three bedrooms and two bathrooms. Garage has epoxy-finish floor and custom built cabinetry. Plus a plenitude of many more upgrades! Don't Miss This Opportunity!!

SEE MORE

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: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k518k

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

Neighborhood: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9542106

* 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
Orrenmaa Elementary School Primary Regular 596 23 4
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown NA

Orrenmaa Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 23
4
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

Hillcrest High School

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

$463,500$566,500$515,000

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 -$1,789
Property Tax -$519
Property Insurance -$58
Property Management Fees -$113
CASH FLOW
-$559

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.

$515,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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-$10k-$5.0k$0.0$5.0k

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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,033

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
  • $1.49

    LIST RENT PER SQFT
  • $1,937

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9203$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 3052 Wickham Drive Riverside, CA 2
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.49
    •  
  • 11507 Rancho Del Oro Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.54
    •  
  • 11241 Wayfield Road Riverside, CA 3
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 9815 Mcnicholl Riverside, CA 4
    • 4 beds 1 baths ∙ 1,565 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,565 Sqft ∙ Built 1971
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.50
    •  
  • 11544 Inglewood Court Riverside, CA 5
    • 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Corin Dragomir
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21062102
Last Updated: 03/25/2021
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