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803 Langholm Way Riverside, CA 92508

4 Beds 2 Baths 1,636 sqft Built 1998

$515,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $314.79
  • 50 Days on Market
  • MLS # : IV20220154
  • Updated Date : 12/04/2020 at 13:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

3d Realty

Listing Agent's Description

Hard to find SINGLE story with four bedrooms plus an office/den in the King High School area. The kitchen features newer Samsung stainless steel appliances along with richly mahogany colored cabinets. Dual fire place that opens to family room and dining area. Master bedroom features an upgraded bathroom, walk in closet plus a 2 door mirrored closet. White custom shutters throughout. Good size lot with a gated garden area. Walking distance to stores and restaurants. Mature landscaping featuring many roses, fruit trees and palms. In the backyard there is an Aluma Wood patio cover and a large shed for extra storage.

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: 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
Kennedy Elementary School Primary Regular 1,090 40 7
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Kennedy Elementary School

  • Education Level: Primary
  • # of students: 1,090
  • # of teachers: 40
7
GreatSchools Rating

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
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,900
Property Tax -$563
Property Insurance -$67
Property Management Fees -$122
CASH FLOW
-$592

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.

$515,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.40%

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$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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,292

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,057

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,1003$2,2004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 803 Langholm Way Riverside, CA 1
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.26
    •  
  • 5300 Melbourne Place Riverside, CA 2
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1998
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 19156 Vintage Woods Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1993
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.20
    •  
  • 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
    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
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
PROPERTY LISTING DETAILS
Jennifer Walker
3d Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20220154
Last Updated: 12/04/2020
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