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8539 Running Gait Lane Riverside, CA 92509

4 Beds 2 Baths 2,028 sqft Built 1986

$599,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $295.36
  • 4 Days on Market
  • MLS # : IV21008686
  • Updated Date : 01/14/2021 at 12:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Riverside Cent

Listing Agent's Description

This spectacular Jurupa Valley horse property is a rare find. The single story, highly desirable 4/2 floor plan is ideal. Boasting a spacious interior and a large 30,000+ sqft lot, there are endless possibilities. Enjoy the view from this entertainers dream backyard. It features a sparkling pool and spa, a covered patio with lighting and fans as well as tons of area for seating. The dual RV parking on both sides of the home is a pull through to the back of the lot and has a sewer clean out option. So convenient for parking and storage. Tons of yard area for those family get togethers or additional structures. Energy efficiency is the name of the game with this property. There is a newer installed Solar energy system which is completely paid for. Say good bye to those electric bills and hello to your reimbursement checks at the end of the year! The newer dual paned windows throughout help to keep the house insulated as well as being a lovely decorative touch. This along with the upgraded electrical panel and new roof, really take care of those big ticket price upgrades. The interior is neat and has been well maintained. Charming kitchen which has a ton of counter space and recessed lighting as well as a large living room with an on trend color palette. All the bedrooms are oversized and all have ceiling fans for your convenience. The master bathroom has been remodeled and has backyard access. Great for those quick bathroom breaks while at the pool. WHAT A FIND!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pedley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Pedley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112178

* 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
Stone Avenue Elementary School Primary Regular 793 31 5
Jurupa Middle School Middle Regular 1,236 47 5
Patriot High School High Regular 2,094 82 6

Stone Avenue Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 31
5
GreatSchools Rating

Jurupa Middle School

  • Education Level: Middle
  • # of students: 1,236
  • # of teachers: 47
5
GreatSchools Rating

Patriot High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 82
6
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,081
Property Tax -$567
Property Insurance -$76
Property Management Fees -$140
CASH FLOW
-$484

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.

$599,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.8%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,454

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,3004$2,380
$2,380
RENT COMPS ANALYSIS
  • 8539 Running Gait Lane Riverside, CA 4
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.17
    •  
  • 8000 Paisano Way Riverside, CA 1
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1977
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
  • 5671 Northwood Drive Jurupa Valley, CA 2
    • 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 1984
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.25
    •  
  • 8440 Brookfield Drive Riverside, CA 3
    • 5 beds 2 baths ∙ 1,992 Sqft ∙ Built 1980 5 beds 2 baths ∙ 1,992 Sqft ∙ Built 1980
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
PROPERTY LISTING DETAILS
Diane Frank
Keller Williams Riverside Cent
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21008686
Last Updated: 01/14/2021
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