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4605 Drayton Place Riverside, CA 92503

3 Beds 2 Baths 1,107 sqft Built 1984

$439,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $397.38
  • 3 Days on Market
  • MLS # : IV20259958
  • Updated Date : 12/18/2020 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,107 sqft
  • Baths : 2 full
Listing Agent

Castle Realty Group Inc.

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Arlanza

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $114k484k

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

Neighborhood: Arlanza

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8762101

* 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
Myra Linn Elementary School Primary Regular 627 27 4
Wells Middle School Middle Regular 922 37 2
Norte Vista High School High Regular 2,189 86 3

Myra Linn Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 27
4
GreatSchools Rating

Wells Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 37
2
GreatSchools Rating

Norte Vista High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 86
3
GreatSchools Rating
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,623
Property Tax -$448
Property Insurance -$54
Property Management Fees -$108
CASH FLOW
-$403

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.

$439,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 13.9%
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$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$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8303$1,995
$1,995
RENT COMPS ANALYSIS
  • 4605 Drayton Place Riverside, CA 2
    • 3 beds 2 baths ∙ 1,107 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,107 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.65
    •  
  • 10035 Hillsborough Lane Riverside, CA 1
    • 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.55
    •  
  • 6835 Farrier Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.52
    •  
PROPERTY LISTING DETAILS
Sergio Duran
Castle Realty Group Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20259958
Last Updated: 12/18/2020
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