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13089 Via Alia Riverside, CA 92503

3 Beds 3 Baths 2,662 sqft Built 2008

INVESTimate

$550,000

List Price

$2,570

$2,320 - $2,820

Rent Est.

$582,615  ( +5.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
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!

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 Mathews Elementary School Primary Regular 907 33 8
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Arlington High School High Regular 1,956 79 5

Lake Mathews Elementary School

  • Education Level: Primary
  • # of students: 907
  • # of teachers: 33
8
GreatSchools Rating

Frank Augustus Miller Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 40
8
GreatSchools Rating

Arlington High School

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

$495,000$605,000$550,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

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-$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

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

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
$2,400
1$2,4002$2,4953$2,5704$2,700
$2,700
RENT COMPS ANALYSIS
  • 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
Robert May
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20173840
Last Updated: 08/24/2020
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