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774 Navajo Drive Riverside, CA 92507

5 Beds 2 Baths 2,727 sqft Built 1963

$480,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $176.02
  • 6 Days on Market
  • MLS # : IV20240880
  • Updated Date : 11/20/2020 at 18:21
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,727 sqft
  • Baths : 2 full
Listing Agent

Re/max One

Listing Agent's Description

The Three Most Important Words in Real Estate??? Location, Location, Location! Tucked away in Canyon Crest, just a mile from UCR sits this 5 Bedroom Pool Home with loads of Potential. Currently a rental. Needs some repairs and some Tender Loving Care, but it's also $100,000 under market. Low Maintenance Front Yard with shrubs and rock. Kitchen/Dining Room Combo. Large Separate Living Room with Fireplace. Family Room with Slider to Backyard. 2 Bedrooms Downstairs, 3 Up. All Bedrooms are roomy but one of the Upstairs Bedrooms is huge with it's own sitting room. Kitchen and Bathrooms are mostly original. Roll up your sleeves and bring your hammer!

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: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

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
Emerson Elementary School Primary Regular 798 32 4
Emerson Elementary School Middle Regular 798 32 4
John W. North High School High Regular 2,281 95 4

Emerson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

Emerson Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,771
Property Tax -$461
Property Insurance -$93
Property Management Fees -$153
CASH FLOW
$122

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.

$480,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.8%
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$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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$52,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,554

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,6004$3,000
$3,000
RENT COMPS ANALYSIS
  • 774 Navajo Drive Riverside, CA 3
    • 5 beds 2 baths ∙ 2,727 Sqft ∙ Built 1963 5 beds 2 baths ∙ 2,727 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 816 Navajo Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 2,727 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,727 Sqft ∙ Built 1963
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.91
    •  
  • 11611 Tulane Avenue Riverside, CA 2
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 1960 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 1960
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 5670 Argyle Way Riverside, CA 4
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1961
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Shelly Lindekugel
Re/max One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20240880
Last Updated: 11/20/2020
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