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3577 Autumn Walk Drive Riverside, CA 92503

4 Beds 2 Baths 1,098 sqft Built 1987

$455,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $414.39
  • 122 Days on Market
  • MLS # : 20631302
  • Updated Date : 10/28/2020 at 17:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,098 sqft
  • Baths : 2 full
Listing Agent

Union Real Estate

Listing Agent's Description

Beautifully Renovated Cul-de-sac home in Riverside in a convenient location. This street is quiet and tucked away from traffic with ample parking. It boasts a unique entry walkway and Lush Green yard. Door bell has been upgraded to modern Ring video system. There is a total of 4 Bedrooms, one of which is a larger sized Master Bedroom with beautiful painted wainscoting; 2 Bathrooms upgraded with granite and refinished vanities/cabinetry. Home features Unique interior architecture and Built-in shelving for the post. Kitchen has been refinished and has Granite countertops with a breakfast ledge table, perfect for a social atmosphere. This home has been upgraded with a larger covered outdoor patio. The side of the front yard has large white double door gates capable of RV parking conversion as well. This home is walking distant to middle school and the top performing elementary and high school is less than 2 miles away! Property has high solar potential rating as well (Sun Number: 95/10)

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: Home Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Home Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112155

* 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
Lake Hills Elementary School Primary Regular 832 32 9
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown 1,353 53 NA

Lake Hills Elementary School

  • Education Level: Primary
  • # of students: 832
  • # of teachers: 32
9
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
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,580
Property Tax -$531
Property Insurance -$54
HOA -$229
Property Management Fees -$115
CASH FLOW
-$560

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.

$455,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.0%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$93

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $1,614

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,1004$2,100
$2,100
RENT COMPS ANALYSIS
  • 3577 Autumn Walk Drive Riverside, CA 2
    • 4 beds 2 baths ∙ 1,098 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,098 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.78
    •  
  • 2370 Fan Palm Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.39
    •  
  • 419 Brookhaven Circle Corona, CA 3
    • 3 beds 3 baths ∙ 1,384 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,384 Sqft ∙ Built 1995
    property image
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.52
    •  
  • 2386 Weatherwood Road Corona, CA 4
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
PROPERTY LISTING DETAILS
Shahid Chaudhry
Union Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20631302
Last Updated: 10/28/2020
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