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7752 Bayberry Ave Riverside, CA 92504

4 Beds 2 Baths 1,372 sqft Built 1959

$475,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $346.21
  • 5 Days on Market
  • MLS # : 210003596
  • Updated Date : 02/10/2021 at 20:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,372 sqft
  • Baths : 2 full
Listing Agent

Harcourts Prime Properties

Listing Agent's Description

Exquisite home on a quiet tree lined street! Light and bright floorplan with 4 bedrooms/2 full bathrooms and large living/dining areas. Updates include hardwood floors, dual pane windows, new sinks/faucets, freshly painted walls/baseboards. Remodeled kitchen with granite countertops, stainless steel kitchen aid appliances and ample storage. Well maintained grounds with bermuda grass, wisteria and star jasmine plants and fruit bearing trees. Private entertainer's backyard with covered porch. Must see home! Interior features include wood/gas fireplace in living area, recessed lighting in the dining and kitchen areas, beautiful hardwood floors throughout, freshly painted walls and baseboards, remodeled kitchen and bathrooms, adjustable blinds in the kitchen and living area and ceiling fans in every room. Kitchen is equipped with Kitchen Aid stove and dishwasher. Large two car garage with plenty of storage. Expansive lot with easy to maintain bermuda grass in the front lot, gorgeous blooming wisteria and star of jasmine in the courtyard and prolific fruit bearing trees including orange, key lime and dwarf lemon. Expert attention to detail throughout this property. Newly installed wood fencing, outdoor automatic solar lights and patio swing enhance the backyard area perfect for entertaining and enjoyment. Security system installed with cellphone application access. This home is located on an idyllic tree lined street with easy access to shopping, schools, dining, and freeway access. Within walking distance to Madison Elementary and Ramona High Schools. Must see property! Equipment: Dryer, Washer Other Fees: 0 Sewer: Sewer Connected Topography: LL

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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: Morton Manor

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Morton Manor

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8722101

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,650
Property Tax -$460
Property Insurance -$60
Property Management Fees -$117
CASH FLOW
-$307

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.

$475,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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-$5.0k$0.0$5.0k$10k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $1,935

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9754$1,9805$2,100
$2,100
RENT COMPS ANALYSIS
  • 7752 Bayberry Ave Riverside, CA 4
    • 4 beds 2 baths ∙ 1,372 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,372 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.44
    •  
  • 6729 Burnside Court Riverside, CA 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.33
    •  
  • 3626 Lillian Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.47
    •  
  • 7395 Diamond Street Riverside, CA 3
    • 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,510 Sqft ∙ Built 1953
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.31
    •  
  • 3926 Madrona Road Riverside, CA 5
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.53
    •  
PROPERTY LISTING DETAILS
Adrienne Mineiro
Harcourts Prime Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 210003596
Last Updated: 02/10/2021
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