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8320 Baxter Way Riverside, CA 92504

3 Beds 2 Baths 1,344 sqft Built 1979

$469,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $349.63
  • 4 Days on Market
  • MLS # : IV21056220
  • Updated Date : 03/19/2021 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

Welcome home to this great corner lot property located in Presidential Park, just below the majestic Victoria Avenue. This three bedroom two bath home has an open, spacious living area and offers a fantastic fireplace, remodeled kitchen with granite countertops, remodeled bathrooms and dual panes windows. The backyard is beautifully landscaped and offers a fabulous grapefruit tree, handy sheds and a huge wrought iron gated RV access. The garage is good size and has been finished with drywall.

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: Presidential Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $128k484k

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

Neighborhood: Presidential Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9232101

* 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
Chemawa Middle School Middle Regular 896 41 4
Arlington High School High Regular 1,956 79 5
Chemawa Middle School Middle Unknown NA

Chemawa Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 41
4
GreatSchools Rating

Arlington High School

  • Education Level: High
  • # of students: 1,956
  • # of teachers: 79
5
GreatSchools Rating

Chemawa Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,632
Property Tax -$455
Property Insurance -$60
Property Management Fees -$113
CASH FLOW
-$349

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.

$469,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$5,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,908

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,9104$2,300
$2,300
RENT COMPS ANALYSIS
  • 8320 Baxter Way Riverside, CA 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.42
    •  
  • 3251 Arapahoe Street Riverside, CA 1
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1959
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.43
    •  
  • 4214 Adams Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 8401 Mimosa Tree Court Riverside, CA 4
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1989
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.41
    •  
PROPERTY LISTING DETAILS
Christi Rainey-shellner
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21056220
Last Updated: 03/19/2021
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