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5944 Kendrick Drive Riverside, CA 92507

4 Beds 2 Baths 1,985 sqft Built 1997

$500,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $251.89
  • 10 Days on Market
  • MLS # : IV20233540
  • Updated Date : 11/06/2020 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,985 sqft
  • Baths : 2 full
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

WELCOM HOME TO THIS BEAUTIFUL 4 BED / 2.75 BATHS, 1985 SQ. FT. HOME IN THE DESIRABLE COMMUNITY OF SYCAMORE HIGHLANDS, GREAT LOCATION, CLOSE TO THE 215/60/90 FREEWAYS, CANYON CREST TOWN CENTER, RESTAURANTS, PARKS AND UCR. THIS WELL LAID OUT FLOOR PLAN OFFERS YOU A LARGE FORMAL LIVING W VAULTED CEILING W LOTS OF NATURAL LIGHT, FAMILY ROOM W STACK STONE FIREPLACE, SPACIOUS KITCHEN WITH LOTS OF CABINETRY AND COUNTER SPACE. BEDROOM DOWNSTAIR IS BEING USED AS AN OFFICE & HAS A BEAUTIFUL FUNCITIONAL WORK STATION & A 3/4 BATH DOWNSTAIRS. LARGE MASTER SUITE W WALK-IN CLOSET, DOUBLE SINKS, ROMAN TUB AND SEPARATE SHOWER, THE LAUNDRY ROOM IS LOCATED UPSTAIRS FOR EASY ACCESS. BACKYARD HAS PLENTY OF ROOM TO RELAX AND ENJOY WITH CONCRETE SLAB, ALUMA-WOOD PATIO COVER WITH LIGHTING, FIREPIT AND VINYL FENCING. SELLER SAID THAT THE A/C UNIT AND WATER HEATER WERE REPLACED IN 2017, THE 2 CAR GARAGE DOOR AND CONTROL SYSTEM WAS REPLACE IN 2018. MAKE THIS A MUST SEE!!

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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: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Emerson Elementary School Primary Regular 798 32 4
Emerson Elementary School Middle Regular 798 32 4
John W. North High School High Regular 2,281 95 4

Emerson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

Emerson Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,845
Property Tax -$491
Property Insurance -$75
Property Management Fees -$135
CASH FLOW
-$256

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.

$500,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.8%
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$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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,367

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,2904$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 5944 Kendrick Drive Riverside, CA 3
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.15
    •  
  • 1481 Allendale Drive Riverside, CA 1
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.15
    •  
  • 21030 Gallant Fox Drive Moreno Valley, CA 2
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1990
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.09
    •  
  • 5769 Applecross Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1992
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.25
    •  
  • 5972 Kendrick Drive Riverside, CA 5
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 1998
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.28
    •  
PROPERTY LISTING DETAILS
Mary Jenkins
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20233540
Last Updated: 11/06/2020
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