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6156 Courtney Circle Riverside, CA 92509

3 Beds 2 Baths 1,146 sqft Built 1986

$425,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $370.86
  • 4 Days on Market
  • MLS # : PW21032158
  • Updated Date : 03/04/2021 at 21:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,146 sqft
  • Baths : 2 full
Listing Agent

Monica Pohle, Broker

Listing Agent's Description

Welcome home to this lovely, highly upgraded Jurupa Valley Home. 3 bedrooms, 2 bathrooms, 1,146 sq. ft. of living space. Entering through the front door with a covered porch, you will find newer energy saving vinyl windows, raised panel doors, mirrored closet doors in bedrooms, updated lighting and hardware and ceiling fans in every room. Kitchen boasts granite tile counter tops, stainless steel appliances and a breakfast bar. From the kitchen elegant French doors lead to the patio. Both bathrooms have been remodeled with granite counters and updated fixtures. Another set of French doors in the master bedroom leads to a private stone patio complete with patio cover, ceiling fan, misting system and built in slate stone BBQ. Newer exterior paint. Interior ceilings have had popcorn removed, textured and painted. Leased solar electric will keep your utility bill low! Fresh, clean water thanks to the whole house water softener and purification system. You will love the low maintenance, water conserving front and back yards. This house is ready for you to move in and call home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pedley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Pedley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112178

* 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
Jurupa Middle School Middle Regular 1,236 47 5
Patriot High School High Regular 2,094 82 6
Jurupa Middle School Middle Unknown NA

Jurupa Middle School

  • Education Level: Middle
  • # of students: 1,236
  • # of teachers: 47
5
GreatSchools Rating

Patriot High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 82
6
GreatSchools Rating

Jurupa Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,476
Property Tax -$402
Property Insurance -$55
Property Management Fees -$110
CASH FLOW
-$174

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.

$425,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.8%
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$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9753$2,100
$2,100
RENT COMPS ANALYSIS
  • 6156 Courtney Circle Riverside, CA 1
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.63
    •  
  • 6155 Avenue Juan Diaz Riverside, CA 2
    • 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,363 Sqft ∙ Built 1973
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.45
    •  
  • 7921 Carlyle Drive Riverside, CA 3
    • 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1990
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.43
    •  
PROPERTY LISTING DETAILS
Monica Pohle
Monica Pohle, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21032158
Last Updated: 03/04/2021
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