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6117 Duquesne Street Riverside, CA 92506

3 Beds 3 Baths 1,617 sqft Built 1955

$550,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $340.14
  • 1 Days on Market
  • MLS # : IV21152495
  • Updated Date : 07/13/2021 at 10:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,617 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Champions

Listing Agent's Description

Beautiful One Story Home! Beautifully landscaped on a corner lot of one of riversides most desirable neighborhoods.. Large back yard for entertaining. The Living room has a warm and cozy fire place with an oversized picture window to view the manicured front yard. Within walking distance of some of Riversides finest schools.

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: Victoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Victoria

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
Gage Middle School Middle Regular 1,004 40 4
Poly High School High Regular 2,777 106 6

Gage Middle School

  • Education Level: Middle
  • # of students: 1,004
  • # of teachers: 40
4
GreatSchools Rating

Poly High School

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

$495,000$605,000$550,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,910
Property Tax -$532
Property Insurance -$66
Property Management Fees -$133
CASH FLOW
-$382

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.

$550,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 9.6%
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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,997

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,1953$2,2004$2,2605$2,300
$2,300
RENT COMPS ANALYSIS
  • 6117 Duquesne Street Riverside, CA 4
    • 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,617 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.40
    •  
  • 2835 Iron Hills Way Riverside, CA 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.43
    •  
  • 2702 Kathleen Street Riverside, CA 2
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1975
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.47
    •  
  • 2258 El Capitan Drive Riverside, CA 3
    • 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1972
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 3031 Horace Street Riverside, CA 5
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1955
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.47
    •  
PROPERTY LISTING DETAILS
Tad Barton
Better Homes And Gardens Real Estate Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21152495
Last Updated: 07/13/2021
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