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20301 Silktassel Road Riverside, CA 92508

4 Beds 3 Baths 2,280 sqft Built 1990

$539,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $236.40
  • 5 Days on Market
  • MLS # : IV20242453
  • Updated Date : 11/19/2020 at 11:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Riverside Cent

Listing Agent's Description

Highly upgraded home in a great location, don't miss this one! Custom paint, commercial-grade argon-filled windows, wood shutters & upgraded lighting/ceiling fans throughout. Completely remodeled kitchen w/granite counters, custom wood cabinets w/pull outs, a 36" commercial grade, gourmet stove & exhaust hood, stainless appliances, remote-controlled under-cabinet LED lighting & breakfast bar. Porcelain tile flooring. 1 bed & bath downstairs & 3 bed/2 baths up. Oversized Master Retreat w/fireplace & French Doors to a private balcony w/Trex engineered wood. Master Bath w/his & her closets, Roman tub, separate shower. Master bath is updated custom maple vanity with vessel sinks & Hansgrohe Axor sink faucets & granite countertop. Other Upgrades include 5-ton 15 SEER Bryant 2 speed AC & furnace with Carrier High-efficiency Electronic Air Filtration System, custom mahogany entry door w/stained glass, custom Merbau hardwood flooring in a herringbone pattern w/custom inlaid marquetry on the entryway landing with hardwood flooring continuing into the living & dining rooms. Garage features custom paint, epoxy flooring & extra storage. Meticulously landscaped, water-conscious grounds designed for ease of care & entertaining! Covered patio, tiered barbecue area, block fencing & planters. All planters/grass areas are enhanced w/drainage system, timed sprinkler/drip systems & Malibu lights. The community has top-rated schools, including Martin Luther King High, with no HOA and low taxes.

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: Orangecrest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k610k

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

Neighborhood: Orangecrest

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
Rivera Elementary School Primary Regular 755 28 8
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Rivera Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 28
8
GreatSchools Rating

Earhart Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 37
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,989
Property Tax -$514
Property Insurance -$82
Property Management Fees -$141
CASH FLOW
-$336

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.

$539,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$13,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,519

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4503$2,5004$2,5005$2,750
$2,750
RENT COMPS ANALYSIS
  • 20301 Silktassel Road Riverside, CA 1
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.05
    •  
  • 20423 Sugar Gum Road Riverside, CA 2
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1993
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.11
    •  
  • 8778 Snowmass Peak Way Riverside, CA 3
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.17
    •  
  • 8916 Mesa Oak Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1991
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 19688 Allenhurst Street Riverside, CA 5
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2001
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.12
    •  
PROPERTY LISTING DETAILS
Kevin Allen
Keller Williams Riverside Cent
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20242453
Last Updated: 11/19/2020
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