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7940 Citadel Court 
Riverside, CA
92503
3 Beds 2 Baths 1,000 sqft
Built 1971
INVESTimate
$350,000
List Price
$98,500
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PROPERTY INFO
FACTS
- Built In 1971
- Price/Sqft : $350.00
- 3 Days on Market
- MLS # : DW20173381
- Updated Date : 08/24/2020 at 19:23
CONSTRUCTION
- Beds : 3
- Floor Size : 1,000 sqft
- Baths : 1 full , 1 half
Listing Agent
Impact Real Estate Services
Listing Agent's Description
Welcome to the city of Riverside!! Offering this wonderful home located minutes from the 91 fwy and near shopping centers. Just blocks away from Challen Park where you have a mountain to discover with hiking and biking trails. This home is a 3 bed, 1.5 bath with 1,000 sqft. Perfect for a first time home buyer. Home offers a private backyard with a patio and fruit trees. Attached two car garage with laundry hookups. Master bedroom has attached bath half bath.
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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: Arlanza
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Arlanza
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$357 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$119
|
||
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.
$350,000
PROJECTED PRICE
$1,680
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 13.95% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
3.75
YEARS SAVED
$14,584
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$1.68
LIST RENT PER SQFT
-
$1,545
COMP ESTIMATED VALUE -
$1.55
COMP AVG. RENT PER SQFT
Comps Range
-
7940 Citadel Court Riverside, 1
- 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1971
- Rent
- Rent Per SQFT
- $1,680
- $1.68
-
10035 Hillsborough Lane Riverside, 2
- 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971
LEASED 05/22/20- Rent
- Rent Per SQFT
- $1,750
- $1.55
-
4344 Monticello Avenue Riverside, 3
- 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1957
LEASED 10/31/19- Rent
- Rent Per SQFT
- $1,800
- $1.54
PROPERTY LISTING DETAILS
Impact Real Estate Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW20173381
Last Updated: 08/24/2020
