Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9598 Taft Street Riverside, CA 92508

4 Beds 3 Baths 2,617 sqft Built 2006

$620,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $236.91
  • 6 Days on Market
  • MLS # : IV20261428
  • Updated Date : 12/22/2020 at 08:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,617 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

Come and see this Stunning One Story beauty! It is Turnkey and move in ready. Enter the home through a wrought iron gated entry for beauty and security. Interior of home is tastefully decorated in neutral colors with a very open floor-plan. Family room is an open design that flows into a Stunning Kitchen. Granite Countertops and stainless steel appliances make this kitchen really stand out. Lots of cupboard space in kitchen and counter space to entertain and cook your most favorite special meals. Kitchen has a door to the three car garage and there is an eating area off the kitchen as well as a breakfast bar. There is an indoor laundry room for your convenience which has cupboard storage as well as a built in sink. The bedrooms are all nice size and Master bedroom has an attached bathroom which has both a sunk in bathtub and a separate shower. The backyard is on a nice large lot with potential for lots of amenities. There is also a gated dog run on the side of the yard. Home has gutters around the tiled roof and there is even room in the front for RV parking. This home has it all. Close to shopping and schools. Come see this beauty - it wont last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$558,000$682,000$620,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,288
Property Tax -$595
Property Insurance -$91
HOA -$35
Property Management Fees -$143
CASH FLOW
-$721

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.

$620,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.39%

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-$10k-$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$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,440

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4303$2,4504$2,4955$2,595
$2,595
RENT COMPS ANALYSIS
  • 9598 Taft Street Riverside, CA 2
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.93
    •  
  • 18302 Blue Sky Street Riverside, CA 1
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
  • 19234 Marmalade Ct Riverside, CA 3
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
  • 9349 Golden Lantern Road Riverside, CA 4
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.92
    •  
  • 9410 Newbridge Drive Riverside, CA 5
    • 4 beds 2 baths ∙ 2,870 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,870 Sqft ∙ Built 2005
    property image
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
PROPERTY LISTING DETAILS
Cheryl Parker
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20261428
Last Updated: 12/22/2020
BESbswy