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2161 Buckskin Place Riverside, CA 92506

4 Beds 2 Baths 1,901 sqft Built 1976

$510,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $268.28
  • 5 Days on Market
  • MLS # : 200054527
  • Updated Date : 12/23/2020 at 15:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,901 sqft
  • Baths : 2 full
Listing Agent

Mckee Properties

Listing Agent's Description

Opportunity knocks! 4 bedroom/2 bath home located in the highly desirable Canyon Crest community, one of Riverside's most coveted neighborhoods. This home sits on an oversized 11,761 sqft lot w/ a large private backyard & generous set-backs from neighbors. The spacious floorplan offers 1,901 sqft of living space, featuring a large formal living room, open concept kitchen & family room with vaulted ceilings, custom stone fireplace, spacious master bedroom w/ ensuite bathroom, (SEE SUPPLEMENT) separate laundry room and 3 car garage. With some TLC, this home can be made into your dream home. Located just minutes from major freeways, The Riverside Plaza and Canyon Crest Town Center. Per the Estate, Home to be sold in present "As-Is" condition, without repairs, replacements, credits, warranties, or termite repairs. Equipment: Range/Oven Other Fees: 0 Sewer: Sewer Connected Topography: LL

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Castle View Elementary School Primary Regular 609 24 5
Castle View Elementary School Middle Regular 609 24 5
Poly High School High Regular 2,777 106 6

Castle View Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Castle View Elementary School

  • Education Level: Middle
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,882
Property Tax -$494
Property Insurance -$73
Property Management Fees -$142
CASH FLOW
-$190

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.

$510,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$22,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,481

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,4004$2,6505$2,650
$2,650
RENT COMPS ANALYSIS
  • 2161 Buckskin Place Riverside, CA 3
    • 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.26
    •  
  • 2258 El Capitan Drive Riverside, CA 1
    • 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,789 Sqft ∙ Built 1972
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 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
    •  
  • 1560 Country Club Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 1967
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.38
    •  
  • 5957 Wimbledon Drive Riverside, CA 5
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.32
    •  
PROPERTY LISTING DETAILS
Brendan Mckee
Mckee Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 200054527
Last Updated: 12/23/2020
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