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9463 Stirrup Street Riverside, CA 92509

4 Beds 2 Baths 1,692 sqft Built 1978

$575,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $339.83
  • 22 Days on Market
  • MLS # : OC20221376
  • Updated Date : 11/14/2020 at 11:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,692 sqft
  • Baths : 2 full
Listing Agent

@vantage Real Estate

Listing Agent's Description

4 bedroom upgraded single story ranch style house on a huge lot of half an acre. Lots of room for horses, RV, boat, entertaining. Large 3 car garage and lots of driveway parking plus space at each side of the house. Gate access at back of huge corral to horse trails. The house has brand new windows all round, new floors, new appliances and new paint. This is a great family home especially if you like to have some space around you. There is so much space at the back your imagination can run wild. They don't build them like this anymore.

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: 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
Pedley Elementary School Primary Regular 508 22 3
Mira Loma Middle School Middle Regular 860 35 3
Jurupa Valley High School High Regular 1,608 65 4

Pedley Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 22
3
GreatSchools Rating

Mira Loma Middle School

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 35
3
GreatSchools Rating

Jurupa Valley High School

  • Education Level: High
  • # of students: 1,608
  • # of teachers: 65
4
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$2,122
Property Tax -$520
Property Insurance -$68
HOA -$23
Property Management Fees -$123
CASH FLOW
-$766

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.

$575,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.36%

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

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0903$2,1004$2,150
$2,150
RENT COMPS ANALYSIS
  • 9463 Stirrup Street Riverside, CA 2
    • 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.24
    •  
  • 6307 Heatherwood Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1985
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.18
    •  
  • 8000 Paisano Way Riverside, CA 3
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1977
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
  • 5671 Northwood Drive Jurupa Valley, CA 4
    • 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 1984
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.25
    •  
PROPERTY LISTING DETAILS
Russell Taylor
@vantage Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20221376
Last Updated: 11/14/2020
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