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9965 Granite Hill Dr. Riverside, CA 92509

3 Beds 2 Baths 1,279 sqft Built 1972

$435,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $340.11
  • 3 Days on Market
  • MLS # : IV21024232
  • Updated Date : 02/05/2021 at 13:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,279 sqft
  • Baths : 2 full
Listing Agent

Colonial Realty Group

Listing Agent's Description

Welcome to this charming single story home located in the Glen Avon neighborhood of Riverside. Featuring 3 bedrooms, 2 full baths, and a nice open living area with a lot of potential. Kitchen was recently upgraded with granite countertops and new cabinets. Beautifully maintained backyard includes a covered patio, and a large extra lot in the back. Just needs a little TLC. Close freeway access makes it a perfect location for commuters. **Property to be sold as is.

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: Glen Avon

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Glen Avon

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112101

* 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
Mira Loma Middle School Middle Regular 860 35 3
Jurupa Valley High School High Regular 1,608 65 4

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
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,511
Property Tax -$408
Property Insurance -$58
Property Management Fees -$104
CASH FLOW
-$312

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.

$435,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$5,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7703$1,9954$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 9965 Granite Hill Dr. Riverside, CA 2
    • 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,279 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.38
    •  
  • 3278 Chardoney Way Jurupa Valley, CA 1
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1984
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.38
    •  
  • 10950 Julia Street Jurupa Valley, CA 3
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1956
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.44
    •  
  • 11857 Banana Avenue Fontana, CA 4
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1984
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.37
    •  
  • 14377 Glenoak Place Fontana, CA 5
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1986
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.36
    •  
PROPERTY LISTING DETAILS
Karli Henderson
Colonial Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21024232
Last Updated: 02/05/2021
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