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487 Wilson Circle Riverside, CA 92879

4 Beds 3 Baths 1,911 sqft Built 1988

$650,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $340.14
  • 5 Days on Market
  • MLS # : OC21150110
  • Updated Date : 07/09/2021 at 19:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,911 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hpt Realty

Listing Agent's Description

Featuring 4 Beds, 2.5 Baths, 1,911 square footage home. Spacious Living Room with Vaulted Ceilings, Family room with Cozy Fireplace. Master bath includes double sinks, Walk-In Shower, large bathtub and good size Walk In Closet. Indoor laundry room. 3 Car attached Garage. Large PRIVATE back yard with endless possibilities! No Homeowners Association dues and no special assessments

SEE MORE

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: Corona Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Corona Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822579

* 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
Promenade Elementary School Primary Regular 644 25 8
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown 1,353 53 NA

Promenade Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 25
8
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,258
Property Tax -$641
Property Insurance -$73
Property Management Fees -$139
CASH FLOW
-$751

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.

$650,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,566

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,225
1$2,2252$2,3603$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 487 Wilson Circle Riverside, CA 2
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.23
    •  
  • 690 Azure Lane Corona, CA 1
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1991
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $1.30
    •  
  • 2900 Coventry Circle Corona, CA 3
    • 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1989
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 2958 Rochester Circle Corona, CA 4
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1989
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.34
    •  
  • 2260 Indigo Hills Drive Corona, CA 5
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1993
    LEASED 06/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.46
    •  
PROPERTY LISTING DETAILS
Tina Dao
Hpt Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21150110
Last Updated: 07/09/2021
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