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9242 Shamouti Drive Riverside, CA 92508

4 Beds 3 Baths 2,118 sqft Built 1988

$599,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $282.81
  • 23 Days on Market
  • MLS # : IV21030705
  • Updated Date : 03/05/2021 at 10:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,118 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

Gorgeous 4 bedroom Orangecrest home! This home features beautiful tile flooring throughout downstairs, upgraded kitchen with granite counters and new stainless steel appliances, stone fireplace, vinyl windows and solar screens for extra efficiency, recessed lighting, and fresh paint. Upstairs you'll find 4 spacious bedrooms and a separate office. The main bedroom suite has a large soaking tub, separate tile shower, and huge walk in closet with built in shelving. Situated on an oversized 11,000 sq ft lot, the possibilities are endless...the backyard is complete with an alumawood patio cover, lots of concrete space, a dog run, plenty of grass (lots of room for your dream backyard or pool!). Low taxes and no HOA. PHOTOS WILL BE UPLAODED TOMORROW

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Orangecrest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k610k

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

Neighborhood: Orangecrest

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
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Martin Luther King High School High Regular 3,324 124 9
Frank Augustus Miller Middle School Middle Unknown NA

Frank Augustus Miller Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 40
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating

Frank Augustus Miller Middle School

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

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

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,081
Property Tax -$570
Property Insurance -$78
Property Management Fees -$147
CASH FLOW
-$386

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

$2,490

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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

2.33

YEARS SAVED

$10,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,600

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4903$2,5004$2,5755$2,700
$2,700
RENT COMPS ANALYSIS
  • 9242 Shamouti Drive Riverside, CA 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.18
    •  
  • 8939 Digger Pine Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.27
    •  
  • 8778 Snowmass Peak Way Riverside, CA 3
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.17
    •  
  • 19540 Mt Wasatch Drive Riverside, CA 4
    • 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $1.20
    •  
  • 19553 Tarocco Lane Riverside, CA 5
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1989
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.27
    •  
PROPERTY LISTING DETAILS
Jason Sparks
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21030705
Last Updated: 03/05/2021
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