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7618 Botany Bay Riverside, CA 92508

4 Beds 3 Baths 1,662 sqft Built 1997

$525,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $315.88
  • 11 Days on Market
  • MLS # : IV21029127
  • Updated Date : 02/25/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,662 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate - Orange County

Listing Agent's Description

FOR AGENTS: Please see showing instructions and remarks in MLS. TURNKEY HOME in Highly Sought-After Gated Neighborhood with Fantastic Curb Appeal!! This lovely 4 BEDROOM, 3 BATH HOME is located in MISSION GROVE'S STONEGATE COMMUNITY. As you enter this stunning Open Concept home, notice the Family Room with vaulted ceilings, tall windows for natural lighting, and a COZY FIREPLACE. The adjacent KITCHEN features STAINLESS STEEL APPLIANCES, floor-to-ceiling cabinets for lots of storage, and new sliding door leading to the professionally landscaped backyard. Upgrades include New A/C, New water heater, Double pane Windows, new roll up garage door, Whole House Fan, low-profile ceiling fans in all bedrooms, Recessed Lighting, Custom Shutters throughout, and new Vinyl Fencing around the entire property. Upstairs you have a SPACIOUS MASTER BEDROOM SUITE and MASTER BATHROOM with DOUBLE SINK VANITY, TUB & SHOWER, and WALK-IN CLOSET. The other 2 bedrooms upstairs are spacious and share another Full bathroom in the hallway. Features include a downstairs bedroom. Indoor Fire Sprinklers. Deep Storage closet under the stairs. INSIDE LAUNDRY. This home is in a gated community with amenities that include PICNIC AREAS, PLAYGROUND, and TENNIS COURT. You are within walking distance to shops, movie theatres, gyms, restaurants, and the grocery store! Centrally located near the 215/91/60 Freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,824
Property Tax -$528
Property Insurance -$67
HOA -$98
Property Management Fees -$122
CASH FLOW
-$569

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.

$525,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.39%

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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$901

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,1003$2,2504$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 7618 Botany Bay Riverside, CA 1
    • 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.25
    •  
  • 5300 Melbourne Place Riverside, CA 2
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1998
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 4260 Sydney Harbour Drive Riverside, CA 3
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.30
    •  
  • 7641 Botany Bay Road Riverside, CA 4
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.30
    •  
  • 19281 Foxtail Lane Riverside, CA 5
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
PROPERTY LISTING DETAILS
Jamie Davis
First Team Real Estate - Orange County
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21029127
Last Updated: 02/25/2021
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