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3236 Gallion Circle Riverside, CA 92503

3 Beds 2 Baths 1,407 sqft Built 1978

$489,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $348.19
  • 3 Days on Market
  • MLS # : PW20255955
  • Updated Date : 12/12/2020 at 09:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,407 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Welcome Home!! Beautiful upgraded house in a quiet and well-kept neighborhood. Enjoy all year around with this incredible entertainment corner lot backyard which is one of the largest lots in the neighborhood with 9,148 sq ft lot including three cover patios and RV access, this well maintained home offers you 1,407 sq ft living space,3 bedrooms, 2 bathrooms, open floor living/dining area, family room, great clean kitchen,high ceiling in living room & beautiful fireplace, AC central, attached two car garage with direct access-laundry area in garage, Upgrades done on 05/2017; New kitchen cabinets & granite countertop, new paint inside & outside, new light fixtures, new bathroom vanities with granite countertops, new ceiling fans/lights, new mirror sliding closet doors, new entry door, new laminate flooring. Latest upgrades; Rv access fence & gate, Front house perimeter fence all 2 x 6 redwood material, backyard Pavers, Living room & bathroom recess lights, Front yard sod, plants & sprinkler system.Very convenient location on the desire Riverside 92503 zip code, walking distance to schools, close to Tyler Galleria Mall, groceries, hospital, Metro train stations, freeways a lot more.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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 1,353 53 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: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$440,910$538,890$489,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,808
Property Tax -$494
Property Insurance -$61
Property Management Fees -$125
CASH FLOW
-$367

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.

$489,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.43%

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-$5.0k$0.0$5.0k$10k

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$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$8,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0953$2,1204$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 3236 Gallion Circle Riverside, CA 3
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.51
    •  
  • 3217 Gallion Circle Riverside, CA 1
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1978
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.46
    •  
  • 11460 Shugart Way Riverside, CA 2
    • 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1988
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.42
    •  
  • 337 Danbury Court Corona, CA 4
    • 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 1997
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.43
    •  
  • 11241 Wayfield Road Riverside, CA 5
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1977
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
PROPERTY LISTING DETAILS
Raymundo Corral
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20255955
Last Updated: 12/12/2020
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