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4727 Boardwalk Drive Riverside, CA 92503

3 Beds 2 Baths 1,547 sqft Built 1984

$459,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $296.70
  • 5 Days on Market
  • MLS # : IG21007403
  • Updated Date : 01/15/2021 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,547 sqft
  • Baths : 2 full
Listing Agent

Re/max Partners

Listing Agent's Description

**Gorgeous Estate in a beautiful Riverside area***Enjoy a true sense of peacefulness***This Home Features 3 Bedrooms & 2 Bathrooms***1,547 Sq Ft. of living space and over 13,000 Sq Ft lot***This house is Beautifully Appointed Throughout, Including: Two fireplaces**Central A/C and Heat**Stunning high Ceiling in this large family room with a magnificent fireplace** Step Inside this Wonderful Home that boasts an Elegant Formal Living Room with a fireplace for those cold nights***The Kitchen leads to a dining area**All the bedrooms have ceiling fans** Two car garage with direct access***The back yard is huge, private and with a manicured landscaping. You can enjoy the beautiful mountain and city light views*** The patio has an inviting sitting area to relax after a hard day at work**You must see this unbelievable property to appreciate it**No mello Roos or Association dues***Close to Galleria Mall, Shopping Centers, Schools Etc.

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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
Foothill Elementary School Primary Regular 602 26 4
Wells Middle School Middle Regular 922 37 2
Norte Vista High School High Regular 2,189 86 3

Foothill Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 26
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
 

$413,100$504,900$459,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,594
Property Tax -$467
Property Insurance -$65
Property Management Fees -$136
CASH FLOW
$38

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.

$459,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.50%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$31,352

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
  • $1.49

    LIST RENT PER SQFT
  • $2,336

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,3004$2,350
$2,350
RENT COMPS ANALYSIS
  • 4727 Boardwalk Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.49
    •  
  • 6835 Farrier Avenue Riverside, CA 1
    • 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
    •  
  • 5032 Red Bluff Road Riverside, CA 2
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1978
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.51
    •  
  • 9815 Mcnicholl Riverside, CA 4
    • 4 beds 1 baths ∙ 1,565 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,565 Sqft ∙ Built 1971
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.50
    •  
PROPERTY LISTING DETAILS
Jaime Ernest Becerra
Re/max Partners
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21007403
Last Updated: 01/15/2021
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