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6227 Ash Lane Riverside, CA 92504

3 Beds 3 Baths 1,903 sqft Built 2016

$455,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $239.10
  • 3 Days on Market
  • MLS # : IV20247479
  • Updated Date : 11/28/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,903 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jesse Streeter Real Estate

Listing Agent's Description

Come take a look at this beautiful home in the heart of Riverside. Built in 2016, this 3BD, 3BA home shows like it's brand new! This highly desirable home is nestled in a gated community and boasts new plantation shutters, freshly painted interior, a well designed kitchen, and a huge two car garage with a storage rack. The HOA includes a community pool, playground, and a well maintained park like setting... there is simply too much to list! You have got to come see this for yourself! At this price, it won't last long. To top it off, this home is conveniently located near shopping, entertainment, schools, several Riverside parks and easy access to the 91 freeway. Call for a private showing today!

SEE MORE

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: Grand

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $129k484k

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

Neighborhood: Grand

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9082101

* 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
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,679
Property Tax -$443
Property Insurance -$73
HOA -$170
Property Management Fees -$124
CASH FLOW
-$389

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.

$455,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,112

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2954$2,295
$2,295
RENT COMPS ANALYSIS
  • 6227 Ash Lane Riverside, CA 1
    • 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.10
    •  
  • 4959 Camarillo Lane Riverside, CA 2
    • 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2016
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 6270 Manzanita Way Riverside, CA 3
    • 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 2007
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.21
    •  
  • 6125 Vinehill Way Riverside, CA 4
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2007
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jesse Streeter
Jesse Streeter Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20247479
Last Updated: 11/28/2020
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