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9410 Newbridge Drive Riverside, CA 92508

4 Beds 3 Baths 2,870 sqft Built 2005

$560,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $195.12
  • 20 Days on Market
  • MLS # : IG20263241
  • Updated Date : 01/10/2021 at 12:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,870 sqft
  • Baths : 2 full , 1 half
Listing Agent

Your Home Sold Guaranteed Re

Listing Agent's Description

Woodcrest area! Run don't walk to this gorgeous move-in ready home!! The minute you arrive to the property you will feel like you are home. This immaculate home offers plenty of room for everyone with four bedrooms, formal living and dining room, a family room and loft upstairs. The minute you walk inside you will be greeted by the open floor plan, with high ceilings and plenty of natural light. The family room opens up to the kitchen and it leads to the backyard which is perfect for your entertainment needs. Enjoy your beautiful backyard with plenty of fruit trees and a relaxing feel. Walk upstairs and you will find three really good size secondary bedrooms and loft. The luxurious master suite that is suited for the queen and king of the house offers a very private feeling, walk in closets, dual sinks and a gorgeous views of the mountains. Did I mention that it has the possibility for a RV access. You'll have access to the best schools in Riverside area such as Martin Luther King Jr. High School, Miller Middle School and Mark Twain Elementary School!!!

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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: 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
Mark Twain Elementary School Primary Regular 1,093 41 8
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Martin Luther King High School High Regular 3,324 124 9

Mark Twain Elementary School

  • Education Level: Primary
  • # of students: 1,093
  • # of teachers: 41
8
GreatSchools Rating

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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,945
Property Tax -$535
Property Insurance -$97
HOA -$30
Property Management Fees -$156
CASH FLOW
-$113

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.

$560,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.47%

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$20k

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$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$25,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,662

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4953$2,6504$2,7005$2,875
$2,875
RENT COMPS ANALYSIS
  • 9410 Newbridge Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 2,870 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,870 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.92
    •  
  • 8688 Cabin Pl Riverside, CA 1
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2001
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
  • 9349 Golden Lantern Road Riverside, CA 2
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.92
    •  
  • 8735 Redcliff Place Riverside, CA 4
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2002
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.95
    •  
  • 18920 Chatfield Drive Riverside, CA 5
    • 5 beds 3 baths ∙ 3,186 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,186 Sqft ∙ Built 2005
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $0.90
    •  
PROPERTY LISTING DETAILS
Maricela Smith
Your Home Sold Guaranteed Re
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20263241
Last Updated: 01/10/2021
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