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4525 Star Pass Road Riverside, CA 92507

3 Beds 3 Baths 1,615 sqft Built 2006

$455,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $281.73
  • 3 Days on Market
  • MLS # : CV21029648
  • Updated Date : 02/13/2021 at 09:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,615 sqft
  • Baths : 2 full , 1 half
Listing Agent

Empire Realty

Listing Agent's Description

Park like setting welcomes you through the orange grove to this lovely 2006 built home...5 min to UCR, in the prestigious Reddington Community, 3bed/2.25bth 1615 square feet home with open floor plan/fire place/fenced yard/cemented side yard/ 2 car attached garage and front on-street parking/seperate laundry room/porch. All bedrooms upstairs. Cemented and fenced side yard is great for pets. Close to 91/60/215 freeways. Elementary school just outside the community entrance. Public Park and church within walkin distance. Community amenities include pool, play yard, and beautiful gardens and tree lined trails.

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: Eastside

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k484k

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

Neighborhood: Eastside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7962101

* 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
 

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

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,580
Property Tax -$440
Property Insurance -$66
HOA -$165
Property Management Fees -$133
CASH FLOW
-$135

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

$2,250

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.3%
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$1.6M

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$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 55% 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

3.58

YEARS SAVED

$15,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $2,245

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,3004$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 4525 Star Pass Road Riverside, CA 2
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.39
    •  
  • 1863 Escalante Way Riverside, CA 1
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.30
    •  
  • 1869 Steinman Street Riverside, CA 3
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.42
    •  
  • 1884 Redfield Road Riverside, CA 4
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.42
    •  
  • 1774 Bisbee Way Riverside, CA 5
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.42
    •  
PROPERTY LISTING DETAILS
Ann John
Empire Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21029648
Last Updated: 02/13/2021
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