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6027 Sheppard Street Riverside, CA 92504

3 Beds 1 Baths 1,260 sqft Built 1956

$330,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $261.90
  • 3 Days on Market
  • MLS # : IV20223451
  • Updated Date : 11/21/2020 at 10:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 1 full
Listing Agent

Riverside Realty Group

Listing Agent's Description

MANY POSSIBILITIES !! Fixer property (needs everything) situated on three parcels of land totaling 18,880 square feet. Bring your contractor clients who need a place to park trucks and equipment. Property sold as is. Seller is in the process of having debris hauled off. No repairs will be done and property will not qualify for traditional type financing.

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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: Salt Lake Depot

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $98k484k

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

Neighborhood: Salt Lake Depot

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800190020002100Rent in $7992101

* 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
Mountain View Elementary School Primary Regular 763 28 5
Mountain View Elementary School Middle Regular 763 28 5
Ramona High School High Magnet 2,160 85 4

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 28
5
GreatSchools Rating

Mountain View Elementary School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 28
5
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,218
Property Tax -$319
Property Insurance -$58
Property Management Fees -$107
CASH FLOW
$118

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.

$330,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$37,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8203$1,9754$1,9955$2,400
$2,400
RENT COMPS ANALYSIS
  • 6027 Sheppard Street Riverside, CA 2
    • 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,260 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.44
    •  
  • 6418 Rhonda Road Riverside, CA 1
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1955
    property image
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.49
    •  
  • 6155 Avenue Juan Diaz Riverside, CA 3
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1973
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.45
    •  
  • 5935 Grand Avenue Riverside, CA 4
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.47
    •  
  • 6880 Abel Stearns Avenue Riverside, CA 5
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973
    property image
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
PROPERTY LISTING DETAILS
Mark Meiser
Riverside Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20223451
Last Updated: 11/21/2020
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