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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $342.38
- 2 Days on Market
- MLS # : IV21025244
- Updated Date : 02/06/2021 at 15:44
CONSTRUCTION
- Beds : 3
- Floor Size : 1,694 sqft
- Baths : 1 full
Listing Agent
Realty Executives/riverside
Listing Agent's Description
BEAUTIFUL SINGLE STORY HOME IN CANYON CREST LOCATED IN DESIRABLE NEIGHBORHOOD ON CUL DE SAC STREET WITH VIEWS OF DISTANT MOUNTAINS, 3 BEDROOMS ( ONE BEDROOM BEING USED AS A OFFICE, 2 BATHS, LARGE FAMILY ROOM OFF KITCHEN. THIS HOME HAS BEEN CUSTOMIZED THRU OUT . MANY FEATURES INCLUDE VINYL DUAL PANE WINDOWS, SHUTTERS, REMODELED KITCHEN WITH GRANITE COUNTERS, NEW BOSCH DISHWASHER, UNDER CUPBOARD LIGHTING, CAM LIGHTING, PULL OUT SHELVES, DOUBLE OVEN, REMODELED MASTER AND GUEST BATHROOMS, NEWER "TRAIN" AIR CONDITIONING AND FURNACE, NEWER LAMINATE FLOORING AND CARPETING, CEILING FANS THRU OUT, LARGE 3 CAR GARAGE WITH LOADS OF STORAGE, TWO ALUMA WOOD COVERED PATIO AREAS ON SIDE AND BACK YARD. LOTS OF PRIVACY TO ENJOY THE OUTDOOR AS WELL AS A SPA JUST OFF THE MASTER BEDROOM. BRICK PAVERS SIDE AND BACK.RELAX ON THE BEAUTIFUL FRONT PATIO PORCH AREA WITH NEW PAVERS WHILE VIEWING THE EVENING SUNSET AND DISTANT MOUNTAINS.CANYON CREST COUNTRY CLUB WITH 18 HOLE GOLF COURSE, POOL AND TENNIS COURT. C.C. TOWNE CENTER WITH RESTAURANTS AND SHOPPING NEAR BY. THIS HOME SHOWS PRIDE OF HOME OWNERSHIP!!! PROFESSIONAL PICTURES WILL FOLLOW
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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: Canyon Crest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Canyon Crest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,280 |
| EXPENSES | Loan Payment | -$2,015 |
| Property Tax | -$555 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$492
|
||
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.
$580,000
PROJECTED PRICE
$2,280
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 7.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| 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
$159,450
LOAN DETAILS
$2,015
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $145,000 |
| Loan Amount | $435,000 |
1.5
YEARS SAVED
$4,862
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,280
LIST RENT -
$1.35
LIST RENT PER SQFT
-
$2,308
COMP ESTIMATED VALUE -
$1.36
COMP AVG. RENT PER SQFT
Comps Range
-
1310 Halifax Drive Riverside, CA 1
- 3 beds 1 baths ∙ 1,694 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,694 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $2,280
- $1.35
-
5371 Velo Court Riverside, CA 2
- 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1985
LEASED 03/12/20- Rent
- Rent Per SQFT
- $2,295
- $1.29
-
1312 Melville Drive Riverside, CA 3
- 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1987
LEASED 09/08/20- Rent
- Rent Per SQFT
- $2,500
- $1.32
-
700 Via Zapata Riverside, CA 4
- 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1970
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,500
- $1.42
-
1585 Country Club Drive Riverside, CA 5
- 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1967
LEASED 06/29/20- Rent
- Rent Per SQFT
- $2,650
- $1.42
PROPERTY LISTING DETAILS
Realty Executives/riverside
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21025244
Last Updated: 02/06/2021
