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6485 Capistrano Way Riverside, CA 92504

5 Beds 2 Baths 1,668 sqft Built 1963

$460,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $275.78
  • 1 Days on Market
  • MLS # : IV21152397
  • Updated Date : 07/13/2021 at 06:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,668 sqft
  • Baths : 2 full
Listing Agent

California 5 Star Realty

Listing Agent's Description

Excellent opportunity for a first time home owner, a multi-generational family or an investor. Wow, this 5 bedroom and 2 bathroom home is here for you. This floor plan suits that very purpose. 2 bedrooms downstairs and 3 bedrooms upstairs allows for flexibility. Tile and wood flooring throughout. A true diamond in the rough. Needs a little TLC. Block wall all around with Patio cover. Close proximity to UC Riverside and California Baptist University. Must see to appreciate. This property will not last long.

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: Gordon Acres

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $132k517k

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

Neighborhood: Gordon Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9562206

* 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
Sierra Middle School Middle Regular 890 41 3
Ramona High School High Magnet 2,160 85 4

Sierra Middle School

  • Education Level: Middle
  • # of students: 890
  • # of teachers: 41
3
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

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,598
Property Tax -$448
Property Insurance -$68
Property Management Fees -$143
CASH FLOW
$164

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

$2,420

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.9%
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$0.0$5.0k$10k$15k$20k$25k

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$127,650

INVESTMENT

$127,650

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$46,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $2,524

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4203$2,5004$2,500
$2,500
RENT COMPS ANALYSIS
  • 6485 Capistrano Way Riverside, CA 2
    • 5 beds 2 baths ∙ 1,668 Sqft ∙ Built 1963 5 beds 2 baths ∙ 1,668 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.45
    •  
  • 8433 Crystal Avenue Riverside, CA 1
    • 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1963
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.55
    •  
  • 6485 Nidever Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1963
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.42
    •  
  • 3451 Mono Drive Riverside, CA 4
    • 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1953
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.57
    •  
PROPERTY LISTING DETAILS
Terrill Riley
California 5 Star Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21152397
Last Updated: 07/13/2021
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