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1420 Lovat Court Riverside, CA 92507

4 Beds 3 Baths 2,202 sqft Built 1998

$578,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $262.49
  • 7 Days on Market
  • MLS # : SR21059414
  • Updated Date : 03/22/2021 at 15:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,202 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Success

Listing Agent's Description

This beautiful riverside home is located in a quiet family friendly cul-de-sac neighborhood of Sycamore Highlands. It is conveniently located 10 minutes away from UC Riverside and is walking distance to Sycamore Highlands Park. It’s close to school, restaurants, and has easy access to freeway 60 and 215! Remodeled kitchen with brand new mocha glaze cabinets and quartz carrera white countertops + island. Contains a family room with a fireplace along with a high celling living room. All 4 upstairs bedrooms, 2 1/2 bathrooms are fixed with new cabinets and faucets. There is an upstairs laundry room and 2 bathrooms have new Howell Mountain 9” luxury width stone plastic composite flooring. New hand-scraped finish Palm Beach 7½” luxury width laminate flooring for all bedrooms, the family room, living room, hallway and stairs. The whole house is professionally re-painted and cleaned. There is additional over 400sf bonus room for entertainment. You have all the space you need! The entertaining swimming pool and spa is just in time for summer! The front and backyard landscape is perfect for the kids to enjoy and play. Move in Ready. Summer is getting closer and this pool house can be yours. Don’t wait to come to see it!

SEE MORE

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: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
University Heights Middle School Middle Regular 824 36 4
John W. North High School High Regular 2,281 95 4
University Heights Middle School Middle Unknown NA

University Heights Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 36
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating

University Heights Middle School

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

$520,200$635,800$578,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,008
Property Tax -$568
Property Insurance -$81
Property Management Fees -$143
CASH FLOW
-$378

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.

$578,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,920

INVESTMENT

$158,920

Down Payment
$144,500
Rehab Estimate
$5,750
Closing Costs
$8,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,008

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,500
Loan Amount $433,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,565

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3953$2,4204$2,4505$2,650
$2,650
RENT COMPS ANALYSIS
  • 1420 Lovat Court Riverside, CA 3
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.10
    •  
  • 1481 Allendale Drive Riverside, CA 1
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.15
    •  
  • 5960 Abernathy Drive Riverside, CA 2
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1998
    property image
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.09
    •  
  • 1420 Lochaber Court Riverside, CA 4
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2000
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.13
    •  
  • 5869 Applecross Drive Riverside, CA 5
    • 4 beds 3 baths ∙ 2,051 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,051 Sqft ∙ Built 1992
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.29
    •  
PROPERTY LISTING DETAILS
Wenbin Xiang
Realty One Group Success
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21059414
Last Updated: 03/22/2021
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