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6089 Pachappa Drive Riverside, CA 92506

4 Beds 2 Baths 1,892 sqft Built 1960

INVESTimate

$482,000

List Price

$2,220

$1,998 - $2,442

Rent Est.

$520,512  ( +7.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $254.76
  • 6 Days on Market
  • MLS # : IV20163279
  • Updated Date : 08/21/2020 at 10:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

This three bedroom, two bathroom home has it all!! From the minute you walk in, you find yourself enchanted with the feel and details of this home. From new windows, to remodeled kitchen, and bathrooms, it has all been renovated with the modern style of today’s homes without losing its charm. The kitchen features white shaker style cabinets, with a full subway style back splash, granite counters, and stainless steel appliances. There’s a breakfast nook with lots of natural light and access to the side yard. All the charming light fixtures are upgraded. The living room’s focal point is the fireplace, where the view to the tranquil backyard through the sliding doors is amazing! There is a huge family room toward the back of the house that is flanked by a beautiful wall to wall entertainment center. The master bathroom has a frameless shower surrounded by tile and built-in storage cabinetry. There’s so much to see in this home, you just need to call and set up a private tour now, you won’t be disappointed.

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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: Brusca East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k582k

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

Neighborhood: Brusca East

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000210022002300Rent in $9672390

* 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
Pachappa Elementary School Primary Regular 778 31 7
Pachappa Elementary School Middle Regular 778 31 7
Poly High School High Regular 2,777 106 6

Pachappa Elementary School

  • Education Level: Primary
  • # of students: 778
  • # of teachers: 31
7
GreatSchools Rating

Pachappa Elementary School

  • Education Level: Middle
  • # of students: 778
  • # of teachers: 31
7
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$433,800$530,200$482,000

PURCHASE PRICE

$1,998$2,442$2,220

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,778
Property Tax -$470
Property Insurance -$73
Property Management Fees -$131
CASH FLOW
-$232

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.

$482,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.99%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$133,480

INVESTMENT

$133,480

Down Payment
$120,500
Rehab Estimate
$5,750
Closing Costs
$7,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,500
Loan Amount $361,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,403

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2204$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 6089 Pachappa Drive Riverside, 3
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.17
    •  
  • 3059 Westridge Road Riverside, 1
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 2876 Balfore Street Riverside, 2
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 1973
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.21
    •  
  • 6485 Nidever Avenue Riverside, 4
    • 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1963
    LEASED 03/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.28
    •  
  • 2932 Mary Street Riverside, 5
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1977
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.37
    •  
PROPERTY LISTING DETAILS
Elizabeth Rodriguez
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20163279
Last Updated: 08/21/2020
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