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9211 Delano Drive Riverside, CA 92503

3 Beds 2 Baths 1,104 sqft Built 1977

$450,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $407.61
  • 4 Days on Market
  • MLS # : IV20261488
  • Updated Date : 12/31/2020 at 12:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,104 sqft
  • Baths : 2 full
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

Completely remodeled 3 bed/2 bath one story Ranch style home. HUGE oversized 2 car garage (over 700 sq/ft; dimensions are 23 feet wide by 34 feet deep approximately!!!)…could be framed in to make a 4th bedroom, but right now it’s an amazing workshop for the handy guy! Brand new sectional garage door with new opener. All NEW: dual paned vinyl windows, new slider & new French door, new 5 panel doors/casing, new front door & new firedoor to garage, new 4.25 inch baseboards. All popcorn ceiling scraped & retextured. All new paint in/out. All new flooring including LVP (Luxury Vinyl Plank which has the look of wood but the indestructibility of Vinyl.) LVP throughout whole home with new carpet in the bedrooms only. New white vinyl fence. New concrete slab in the back & new concrete walkway in the front. New sprinklers in the front with all new seed. Brand new kitchen with white shaker cabinets, quartz counters, and new stainless appliances (to be installed at COE). Kitchen has new single basin sink/new faucet/new disposal. New linen cabinet in hall and new vanities in bathrooms. Baths have: New toilets, faucets, mirrors. All new angle stops in the house and new pressure regulator installed. All new outlets/switches. New light fixtures and new recessed LED lighting in the kitchen. Cozy fireplace in living room. Section 1 termite clearance to be provided (work already completed).

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: Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $112k484k

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

Neighborhood: Arlington

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8532101

* 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
Jackson Elementary School Primary Regular 847 33 5
Jackson Elementary School Middle Regular 847 33 5
Arlington High School High Regular 1,956 79 5

Jackson Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 33
5
GreatSchools Rating

Jackson Elementary School

  • Education Level: Middle
  • # of students: 847
  • # of teachers: 33
5
GreatSchools Rating

Arlington High School

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

$405,000$495,000$450,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,660
Property Tax -$435
Property Insurance -$54
Property Management Fees -$113
CASH FLOW
-$343

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.

$450,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 13.6%
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-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$6,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9953$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 9211 Delano Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.74
    •  
  • 6835 Farrier Avenue Riverside, CA 2
    • 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.52
    •  
  • 3926 Madrona Road Riverside, CA 3
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.53
    •  
  • 8633 Ouida Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.53
    •  
  • 4331 Monticello Avenue Riverside, CA 5
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.54
    •  
PROPERTY LISTING DETAILS
Julie Finaldi
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20261488
Last Updated: 12/31/2020
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