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6235 Arch Way Riverside, CA 92506

4 Beds 2 Baths 1,392 sqft Built 1959

$460,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $330.46
  • 3 Days on Market
  • MLS # : IG20255813
  • Updated Date : 12/11/2020 at 12:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Riv

Listing Agent's Description

Beautiful home located in a highly desired Riverside neighborhood. This home features 4 bedrooms, 2 bathrooms, and a 2 car detached, finished garage. Cozy kitchen with white cabinets and granite countertops, brand new dishwasher and brand new cooktop. New paint inside and out. New front door. New waterproof vinyl flooring throughout the home with new carpet in all 4 bedrooms. All bedrooms have large closets. Both bathrooms have new vanities and new toilets. Ceiling fans are located in all bedrooms, living room, dining area, and garage. Central AC and heat. Dual pane windows and raised panel doors throughout make this home feel very modern.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Magnolia Center

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $118k484k

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

Neighborhood: Magnolia Center

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8742101

* 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
Magnolia Elementary School Primary Regular 704 26 6
Magnolia Elementary School Middle Regular 704 26 6
Ramona High School High Magnet 2,160 85 4

Magnolia Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 26
6
GreatSchools Rating

Magnolia Elementary School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 26
6
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,697
Property Tax -$448
Property Insurance -$61
Property Management Fees -$126
CASH FLOW
-$202

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.

$460,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.7%
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$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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,9504$1,9955$2,130
$2,130
RENT COMPS ANALYSIS
  • 6235 Arch Way Riverside, CA 5
    • 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.53
    •  
  • 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
    •  
  • 5049 Brooklawn Place Riverside, CA 2
    • 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 1977
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.37
    •  
  • 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
    •  
  • 5935 Grand Avenue Riverside, CA 4
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.47
    •  
PROPERTY LISTING DETAILS
Sierra Steele
Keller Williams Realty Riv
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20255813
Last Updated: 12/11/2020
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