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16483 Regency Ranch Road Riverside, CA 92504

3 Beds 2 Baths 2,325 sqft Built 1990

$615,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $264.52
  • 42 Days on Market
  • MLS # : IV20209105
  • Updated Date : 11/25/2020 at 05:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,325 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Riverside Cent

Listing Agent's Description

Back on the market! Subject to cancellation of escrow. Don't miss this beauty! Highly desired single story home with high ceilings and an amazing floor plan! The home wraps around a courtyard and covered patio for a true feeling of incorporating the inside with the outside. Large, updated kitchen with granite counter tops, wood look tile flooring, breakfast nook, large walk-in pantry and an island with newer stainless steel cooktop. Appliances include dishwasher, double oven and refrigerator. Living room and formal dining room share a charming two way fireplace. Secondary bedrooms are joined with a jack-and-jill bath with it's own private heater. All bathrooms have granite countertops, Master bath has granite surround on tub with separate shower, dual sinks, 2 walk in closets. Wonderful ceiling fans throughout. FUN, FUN, FUN! A favorite will be the recently built open-air entertainment and recreation room with it’s a stunning granite bar and includes: built-in Premier bar-b-que, under counter fridge, wine cooler, sink with running water and electric water heater, built-in speakers, inset lighting, 2 fans and 10 barstools will stay! There’s more! Plenty of parking with a 3 car garage, driveway, side gate and RV parking. Close to schools, transit, shopping and 91 Frwy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Harrison Elementary School Primary Regular 547 23 4
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Arlington High School High Regular 1,956 79 5

Harrison Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 23
4
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
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,269
Property Tax -$768
Property Insurance -$83
Property Management Fees -$153
CASH FLOW
-$674

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.

$615,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.42%

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-$10k-$5.0k$0.0$5.0k$10k

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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,465

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,600
$2,600
RENT COMPS ANALYSIS
  • 16483 Regency Ranch Road Riverside, CA 2
    • 3 beds 2 baths ∙ 2,325 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,325 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
  • 16435 Grey Lane Riverside, CA 1
    • 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1980
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
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 #: IV20209105
Last Updated: 11/25/2020
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