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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $295.79
- 17 Days on Market
- MLS # : TR20259989
- Updated Date : 01/01/2021 at 17:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,687 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Alliance
Listing Agent's Description
BEST VALUE ON THE MARKET. This one level single family house features 3 Bedrooms and 2 Baths. Approx. 1,687 living sf. (including 338 sf. permitted enclosed patio), 43,124 sf. lot size. Plenty of room for add-on, ADU or other use. Endless possibility. Individual laundry room. 2 car detached garage with additional storage rooms. Private fenced property with gate. Property is on Septic System. Enjoy the mountain views from your own yard.
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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: La Sierra Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Sierra Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,180 |
| EXPENSES | Loan Payment | -$1,841 |
| Property Tax | -$507 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$365
|
||
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.
$499,000
PROJECTED PRICE
$2,180
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 11.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$137,985
LOAN DETAILS
$1,841
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $124,750 |
| Loan Amount | $374,250 |
2.08
YEARS SAVED
$8,157
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,180
LIST RENT -
$1.29
LIST RENT PER SQFT
-
$2,306
COMP ESTIMATED VALUE -
$1.37
COMP AVG. RENT PER SQFT
Comps Range
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10965 Arlington Avenue Riverside, CA 1
- 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1958
- Rent
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- $2,180
- $1.29
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10120 Mandalay Court Riverside, CA 2
- 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976
LEASED 04/06/20- Rent
- Rent Per SQFT
- $2,195
- $1.38
-
11364 Doverwood Drive Riverside, CA 3
- 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1958
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,300
- $1.18
-
283 8th Street Norco, CA 4
- 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971
LEASED 03/25/20- Rent
- Rent Per SQFT
- $2,700
- $1.54
PROPERTY LISTING DETAILS
Coldwell Banker Alliance
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR20259989
Last Updated: 01/01/2021
