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7158 Westport Street Riverside, CA 92506

4 Beds 3 Baths 2,224 sqft Built 1988

$609,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $274.24
  • 5 Days on Market
  • MLS # : IV21045051
  • Updated Date : 03/04/2021 at 22:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,224 sqft
  • Baths : 3 full
Listing Agent

Box Properties

Listing Agent's Description

Beautiful 2 story home in a classic down home neighborhood. Large open floor plan allows for great entertaining space and cohesive family living. Bright natural light streams through the windows many with plantation shutters. Eat in kitchen has a gorgeous garden window and an adjacent large wet bar. Two living spaces as well as a two dining spaces. Spacious cathedral ceilings makes this home huge. One bedroom on first floor along with a full bathroom. Large owner's suite also has vaulted ceilings and an expansive on-suite bathroom. Both front and rear yards are professionally landscaped with drought tolerant plantings. Dry stream bed and lots of quaint vignettes throughout the yard. Huge side yard offers additional space for utilitarian projects or great space for a garden. Newer AC system. This home is near great schools and lots of amenities. Hiking trails nearby within Sycamore Canyon Park.

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: Mission Grove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k603k

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

Neighborhood: Mission Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9
Earhart Middle School Middle Unknown NA

Earhart Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 37
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating

Earhart Middle School

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

$548,910$670,890$609,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,118
Property Tax -$586
Property Insurance -$81
Property Management Fees -$146
CASH FLOW
-$452

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.

$609,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$10k-$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$167,374

INVESTMENT

$167,374

Down Payment
$152,475
Rehab Estimate
$5,750
Closing Costs
$9,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,475
Loan Amount $457,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$7,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,641

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4803$2,8004$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 7158 Westport Street Riverside, CA 2
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.12
    •  
  • 683 Burwood Court Riverside, CA 1
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1991
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.07
    •  
  • 1145 Melville Drive Riverside, CA 3
    • 4 beds 4 baths ∙ 2,279 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,279 Sqft ∙ Built 1987
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.23
    •  
  • 6842 Rycroft Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1978
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
  • 390 Elmridge Court Riverside, CA 5
    • 5 beds 3 baths ∙ 2,293 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,293 Sqft ∙ Built 1992
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.31
    •  
PROPERTY LISTING DETAILS
Leanne Austin
Box Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21045051
Last Updated: 03/04/2021
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