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

9849 Canada Way Riverside, CA 92503

4 Beds 2 Baths 1,980 sqft Built 1978

$535,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $270.20
  • 6 Days on Market
  • MLS # : IV20254052
  • Updated Date : 12/11/2020 at 17:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,980 sqft
  • Baths : 2 full
Listing Agent

Pedersen Real Estate

Listing Agent's Description

This lovely single story home in Riverside surrounded by the Greenbelt is ready to move in. Kitchen and great room remodeled in 2014. Beautiful cabinets with pull outs and quartz counter tops. Huge great room with cozy fireplace that is open to the kitchen and large formal dining room. All floors are either laminate or tile - no carpet. The bedrooms are spacious and have mirrored closet doors. One bedroom is loaded with home office built-ins. All windows have been replaced with dual-paned vinyl windows. Very private back yard with a pool and spa and covered patio. No HOA. This house will not last long. Great location just off Victoria Avenue.

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: Arlington Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $143k665k

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

Neighborhood: Arlington Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9672626

* 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
Harrison Elementary School Primary Regular 547 23 4
Chemawa Middle School Middle Regular 896 41 4
Arlington High School High Regular 1,956 79 5

Harrison Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 23
4
GreatSchools Rating

Chemawa Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 41
4
GreatSchools Rating

Arlington High School

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

$481,500$588,500$535,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,974
Property Tax -$518
Property Insurance -$75
Property Management Fees -$153
CASH FLOW
-$130

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.

$535,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$29,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,581

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5903$2,6004$2,750
$2,750
RENT COMPS ANALYSIS
  • 9849 Canada Way Riverside, CA 2
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.31
    •  
  • 2730 Mcallister Street Riverside, CA 1
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1966
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
  • 2855 Calle Sausalito Riverside, CA 3
    • 5 beds 2 baths ∙ 1,848 Sqft ∙ Built 1976 5 beds 2 baths ∙ 1,848 Sqft ∙ Built 1976
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.41
    •  
  • 10955 Cleveland Avenue Riverside, CA 4
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1986
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.35
    •  
PROPERTY LISTING DETAILS
Vicki Lynn Pedersen
Pedersen Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20254052
Last Updated: 12/11/2020
BESbswy