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8549 Patricia Way Riverside, CA 92504

4 Beds 3 Baths 1,843 sqft Built 2000

$375,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $203.47
  • 7 Days on Market
  • MLS # : SW20228011
  • Updated Date : 10/29/2020 at 14:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,843 sqft
  • Baths : 2 full , 1 half
Listing Agent

J & R Realty & Prpty Mgmt, Inc

Listing Agent's Description

**Beautiful community of Village Parks** This home is in a gated community of Riverside, very private! Upgraded wood flooring throughout this 4 bedroom home with 2.5 baths and 1843sq ft ready to be moved right in. Master bedroom has walk in closet. The kitchen and the bathrooms have been remodeled. Backyard features a covered patio cover and BBQ area. Fresh exterior paint. The association pays for the water, sewer, trash and front yard gardening. This home won't last long, make your appointment now!

SEE MORE

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: 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
Hawthorne Elementary School Primary Regular 713 28 5
Hawthorne Elementary School Middle Regular 713 28 5
Arlington High School High Regular 1,956 79 5

Hawthorne Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 28
5
GreatSchools Rating

Hawthorne Elementary School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 28
5
GreatSchools Rating

Arlington High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,384
Property Tax -$363
Property Insurance -$72
HOA -$155
Property Management Fees -$126
CASH FLOW
$40

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.

$375,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$31,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,359

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1403$2,3004$2,310
$2,310
RENT COMPS ANALYSIS
  • 8549 Patricia Way Riverside, CA 2
    • 4 beds 3 baths ∙ 1,843 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,843 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.16
    •  
  • 3220 Willowgrove Place Riverside, CA 1
    • 3 beds 3 baths ∙ 1,618 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,618 Sqft ∙ Built 2004
    property image
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.24
    •  
  • 8778 Gael Lane Riverside, CA 3
    • 4 beds 3 baths ∙ 1,706 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,706 Sqft ∙ Built 2006
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.35
    •  
  • 5825 Lorisa Way Riverside, CA 4
    • 4 beds 3 baths ∙ 1,843 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,843 Sqft ∙ Built 2000
    property image
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.25
    •  
PROPERTY LISTING DETAILS
Jennifer Marcuse
J & R Realty & Prpty Mgmt, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20228011
Last Updated: 10/29/2020
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