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16473 Regency Ranch Road Riverside, CA 92504

3 Beds 3 Baths 2,541 sqft Built 1991

$715,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $281.39
  • 3 Days on Market
  • MLS # : IV21041656
  • Updated Date : 03/06/2021 at 13:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,541 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Riverside Cent

Listing Agent's Description

Your dream entertainment home is here! So many upgrades and so much to love! Turnkey is the only way to describe this gorgeous, upgraded and remodeled home...Custom entry doors welcome you onto the travertine tile flooring throughout the downstairs, formal living room is separated from the very open country kitchen. You will delight in everything from the 3 bowl sink to the Decor brand appliances - 6 burner built-in cook top with grill, double oven, microwave, dishwasher and refrigerator, all in Stainless Steel and includes double walk in pantries. The countertop and island are gorgeous exotic granite with flecks of sparkle, the island having plenty of seating for all to enjoy. Working at home is a joy with the Built in downstairs office with full bath or could easily be made into a 4th bedroom. Master bath upstairs has been remodeled too! Shower enlarged with shower heads on both ends and a bench. Beds 2 and 3 are joined with a jack and jill bath. All bedrooms have walk-in closets. With this 1/2 acre lot, you'll want to spend a lot of time outdoors with the faux grass putting green, sports court, covered patio area and of course, relaxing spa. There's nothing like the relaxing sounds of running water with this gorgeous rock fountain. Save on utilities too! With paid $30,000 solar panels, green screens on several windows, tankless water heater, LED lights throughout, high utility bills are a thing of the past. Close to shopping, schools and freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k648k

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

Neighborhood: Canyon Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672598

* 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
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Arlington High School High Regular 1,956 79 5
Frank Augustus Miller Middle School Middle Unknown NA

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

Frank Augustus Miller Middle School

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

$643,500$786,500$715,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$2,483
Property Tax -$893
Property Insurance -$89
Property Management Fees -$160
CASH FLOW
-$906

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.

$715,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 9.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,483

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,719

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6003$2,7204$2,800
$2,800
RENT COMPS ANALYSIS
  • 16473 Regency Ranch Road Riverside, CA 3
    • 3 beds 3 baths ∙ 2,541 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,541 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.07
    •  
  • 16435 Grey Lane Riverside, CA 1
    • 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1980
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
  • 16650 Stallion Place Riverside, CA 2
    • 4 beds 2 baths ∙ 2,700 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,700 Sqft ∙ Built 1973
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.96
    •  
  • 14253 Meadowlands Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 2,352 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,352 Sqft ∙ Built 1992
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.19
    •  
PROPERTY LISTING DETAILS
Deborah Weigand
Keller Williams Riverside Cent
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21041656
Last Updated: 03/06/2021
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