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13089 Via Alia 
Riverside, CA
92503
3 Beds 3 Baths 2,662 sqft
Built 2008
INVESTimate
$550,000
List Price
$151,500
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PROPERTY INFO
FACTS
- Built In 2008
- Price/Sqft : $206.61
- 3 Days on Market
- MLS # : IV20173840
- Updated Date : 08/24/2020 at 15:46
CONSTRUCTION
- Beds : 3
- Floor Size : 2,662 sqft
- Baths : 2 full , 1 half
Listing Agent
Westcoe Realtors Inc
Listing Agent's Description
Welcome to Tuscany Village. A small enclave of custom homes nestled near Citrus Heights. Lush landscaping and a stamped concrete driveway enhances the beauty of this model perfect home! The warm interior colors are accentuated by the smooth textured walls, new plush carpeting, travertine flooring, and coordinated lighting! The formal living room and dining room offers a perfect setting to entertain! The family room has built-in surround sound speakers, a gas-logged fireplace, and a media niche! The exquisite chef’s kitchen features gorgeous cabinetry, a center Island with pendant lighting, stainless steel appliances, a built-in refrigerator (included), and spacious breakfast nook! Also downstairs is a powder room and a large office/den that has a sliding glass door that leads to a balcony with wonderful views of the surrounding hills! The master suite features coffered ceilings, recessed accent lighting, pre-wired for speakers, and a romantic gas log fireplace! The luxurious master bathroom is amazing! The elegant shower and separate soaking tub are complimented by Travertine! The dual sink vanity and linen cabinets are topped with granite! The walk-in closet is enormous! Upstairs are two spacious guest bedrooms, a full guest bathroom, a loft, and a laundry room with tons of cabinetry! Additional features include a tankless water heater, Solar system (leased) that saves huge on electricity, a dual A/C system, and built-in speakers in the living & dining room, and kitchen!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Hills-Victoria Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,570 |
| EXPENSES | Loan Payment | -$2,029 |
| Property Tax | -$513 | |
| Property Insurance | -$92 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$216
|
||
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.
$550,000
PROJECTED PRICE
$2,570
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.93% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$2,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
3.75
YEARS SAVED
$23,190
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,570
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,671
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
13089 Via Alia Riverside, 3
- 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 2008
![property image]()
- Rent
- Rent Per SQFT
- $2,570
- $0.97
-
14370 Sunset Ridge Road Riverside, 1
- 3 beds 2 baths ∙ 2,413 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,413 Sqft ∙ Built 2000
![property image]()
LEASED 03/29/19- Rent
- Rent Per SQFT
- $2,400
- $0.99
-
12182 Brianwood Drive Riverside, 2
- 4 beds 2 baths ∙ 2,505 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,505 Sqft ∙ Built 2003
![property image]()
LEASED 05/14/19- Rent
- Rent Per SQFT
- $2,495
- $1.00
-
17208 Woodentree Lane Riverside, 4
- 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2002
![property image]()
LEASED 06/12/20- Rent
- Rent Per SQFT
- $2,700
- $1.02
PROPERTY LISTING DETAILS
Westcoe Realtors Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20173840
Last Updated: 08/24/2020
