Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5237 Manhart Circle Riverside, CA 92509

3 Beds 2 Baths 1,754 sqft Built 1999

INVESTimate

$440,000

List Price

$2,330

$2,097 - $2,563

Rent Est.

$477,312  ( +8.48%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $250.86
  • 3 Days on Market
  • MLS # : IV20173642
  • Updated Date : 08/24/2020 at 13:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full
Listing Agent

Excellence Empire Real Estate

Listing Agent's Description

NICE 3 BEDROOM 2 BATH HOUSE OF 1754 SQUARE FEET OF LIVING SPACE, AND A 10,019 SQUARE FEET LOT. THIS HOUSE HAS A TWO CAR GARAGE WITH A LONG DRIVE WAY. THIS PROPERTY IS LOCATED ON ONE OF THE BEST AREAS OF RIVERSIDE. THIS BEAUTIFUL HOUSE IS AT THE END OF THE CUL DE SAC AND OFFER A BIG BACK YARD AND TWO BIG SIDE YARDS. THERE IS ROOM FOR PARKING ON THE SIDE YARD. HOWEVER, HOA DOES NOT ALLOW TO PARK AN RV. IS OK TO PARK CAR OR PICK UP TRUCKS.

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: Rubidoux

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Rubidoux

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112101

* 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
Peralta Elementary School Primary Regular 624 27 4
Peralta Elementary School Middle Regular 624 27 4
Rubidoux High School High Regular 1,629 67 4

Peralta Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 27
4
GreatSchools Rating

Peralta Elementary School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 27
4
GreatSchools Rating

Rubidoux High School

  • Education Level: High
  • # of students: 1,629
  • # of teachers: 67
4
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,623
Property Tax -$417
Property Insurance -$70
Property Management Fees -$137
CASH FLOW
$83

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.

$440,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.48%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$42,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,380

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2004$2,330
$2,330
RENT COMPS ANALYSIS
  • 5237 Manhart Circle Riverside, 4
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.33
    •  
  • 4041 Osage Avenue Riverside, 1
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 2000
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.49
    •  
  • 4136 Canyonside Circle Jurupa Valley, 2
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1991
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.38
    •  
  • 5201 Wenatchee Way Riverside, 3
    • 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1993
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.20
    •  
PROPERTY LISTING DETAILS
Arturo Serrano
Excellence Empire Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20173642
Last Updated: 08/24/2020
BESbswy