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

3529 Ethereal Riverside, CA 92503

3 Beds 3 Baths 1,815 sqft Built 2006

INVESTimate

$410,000

List Price

$2,300

$2,070 - $2,530

Rent Est.

$455,920  ( +11.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $225.90
  • 8 Days on Market
  • MLS # : IG20169529
  • Updated Date : 08/25/2020 at 11:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,815 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

GREAT WEST RIVERSIDE LOCATION! CLOSE TO SHOPPING, ENTERTAINMENT, DINING, SCHOOLS AND PARKS! FAST TOLL ROAD COMMUTE TO OC! This is a beautiful cape-cod style home is located in a quiet community of only 22 homes. This tri-level home distinctively splits the living spaces into a formal living room on the first floor, kitchen, dining and family room on the second floor with all three bedrooms and laundry room on the third floor. There are many large windows throughout the home making it very light, bright and open. The community has a sand volleyball court, basketball court and picnic area with barbecues. Located just minutes from the Tyler Mall, Downtown Riverside and within an hour to the beach, mountains and desert there is plenty to keep you busy! This home is also close to Cal Baptist University, La Sierra University and UC Riverside.

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: 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
Phillip Stokoe Elementary School Primary Regular 774 30 3
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown 1,353 53 NA

Phillip Stokoe Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 30
3
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

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

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,513
Property Tax -$413
Property Insurance -$71
HOA -$221
Property Management Fees -$136
CASH FLOW
-$54

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.

$410,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.20%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$23,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,509

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3529 Ethereal Riverside, 3
    • 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.27
    •  
  • 380 Tompkins Circle Corona, 1
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1989
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.38
    •  
  • 16289 W Sun Canyon Street Riverside, 2
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1991
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.41
    •  
  • 370 Hendricks Circle Corona, 4
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1989
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.26
    •  
  • 16241 W Sun Canyon Street Riverside, 5
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 1991
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.48
    •  
PROPERTY LISTING DETAILS
Mike Carman
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20169529
Last Updated: 08/25/2020
BESbswy