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12063 E Sun Canyon Street Riverside, CA 92503

4 Beds 3 Baths 2,022 sqft Built 1994

$575,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $284.37
  • 4 Days on Market
  • MLS # : IV21039516
  • Updated Date : 02/25/2021 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,022 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage Inc.

Listing Agent's Description

This Riverside two-story cul-de-sac home offers a patio, granite countertops, and a two-car garage.

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: Lake Hills-Victoria Grove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $144k672k

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

Neighborhood: Lake Hills-Victoria Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9672743

* 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
Lake Hills Elementary School Primary Regular 832 32 9
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown NA

Lake Hills Elementary School

  • Education Level: Primary
  • # of students: 832
  • # of teachers: 32
9
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,997
Property Tax -$567
Property Insurance -$76
Property Management Fees -$137
CASH FLOW
-$457

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

$2,320

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,431

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4503$2,4504$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 12063 E Sun Canyon Street Riverside, CA 1
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.15
    •  
  • 11541 Victoria Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 2,125 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,125 Sqft ∙ Built 1989
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.15
    •  
  • 13001 August Circle Riverside, CA 3
    • 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1988
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.27
    •  
  • 16223 Blue Haven Court Riverside, CA 4
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2000
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
  • 16220 Stonehill Court Riverside, CA 5
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1990
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.22
    •  
PROPERTY LISTING DETAILS
Ben Braksick
Opendoor Brokerage Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21039516
Last Updated: 02/25/2021
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