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6193 Lawson Way Riverside, CA 92506

3 Beds 2 Baths 1,300 sqft Built 1949

$458,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1949
  • Price/Sqft : $353.00
  • 13 Days on Market
  • MLS # : IV20226503
  • Updated Date : 11/07/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Dwell Real Estate

Listing Agent's Description

Beautiful turnkey home just minutes from Magnolia Center and downtown Riverside. The kitchen is not only beautiful, it's very functional with a family style eat-in kitchen. You'll also enjoy convenient access from the garage to the kitchen for carrying in your groceries. The living room is adorned with a lovely fireplace, wood floors and crown molding throughout the home. You’ll also love the covered porch and patio! This lovely home with 3 bedrooms and two full bathrooms is 1300 sq. ft. on a 7,841 sq. ft. lot, which makes for plenty of room for family gatherings and/or to add a pool if you'd like to.

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: Del Ray

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k484k

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

Neighborhood: Del Ray

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8572101

* 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
 

$413,010$504,790$458,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,693
Property Tax -$447
Property Insurance -$59
Property Management Fees -$106
CASH FLOW
-$505

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.

$458,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,359

INVESTMENT

$127,359

Down Payment
$114,725
Rehab Estimate
$5,750
Closing Costs
$6,884

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,725
Loan Amount $344,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,9504$2,0005$2,145
$2,145
RENT COMPS ANALYSIS
  • 6193 Lawson Way Riverside, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.38
    •  
  • 4651 Mcfarland Riverside, CA 1
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1955
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.35
    •  
  • 4770 Gardena Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.42
    •  
  • 4222 Linwood Place Riverside, CA 4
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1941
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.35
    •  
  • 2835 Iron Hills Way Riverside, CA 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1954
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.43
    •  
PROPERTY LISTING DETAILS
Penny Seyler
Dwell Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20226503
Last Updated: 11/07/2020
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