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3591 Tyco Drive Riverside, CA 92501

4 Beds 3 Baths 2,176 sqft Built 2018

$594,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $273.39
  • 4 Days on Market
  • MLS # : IV21050259
  • Updated Date : 03/13/2021 at 13:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,176 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Champions

Listing Agent's Description

Beautiful 2 story home built in 2018 features 4 bedrooms and 2,5 bathrooms. Well manicured and landscape front yard ~ Double door entrance. As you walk into the home you will find an open concept lay out with high ceilings ~ New blinds on all downstairs windows ~ Spacious kitchen with granite counter tops, stainless steel appliances and a pantry that open to the dinning and living area. Upstairs you will find 4 bedrooms and 2 bathrooms. Spacious master bedroom with a huge walk-in closet ~ Beautiful Master bathroom with double sinks ~ shower and separate bathtub. The backyard is approximately 7,000 SQ/FT~ New patio concrete ~ New vinyl fencing and block wall. New tankless water heater. 3 car space attached garage with direct access to the home. This home is conveniently located close to UC Riverside, Riverside Community College, Downtown Riverside, CAL State San Bernardino, Riverside Plaza, parks, restaurants, shops and much more. Easy access to the 60, 215 and 91 Freeway. This home is a must see!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $115k484k

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

Neighborhood: Northside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8912101

* 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
 

$535,410$654,390$594,900

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 -$2,066
Property Tax -$586
Property Insurance -$80
Property Management Fees -$142
CASH FLOW
-$473

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.

$594,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$15k

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$163,399

INVESTMENT

$163,399

Down Payment
$148,725
Rehab Estimate
$5,750
Closing Costs
$8,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,725
Loan Amount $446,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,040

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
  • $1.1

    LIST RENT PER SQFT
  • $2,464

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,3004$2,4005$2,445
$2,445
RENT COMPS ANALYSIS
  • 3591 Tyco Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 1666 Mathews Street Riverside, CA 1
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2007
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
  • 1793 Agrigento Riverside, CA 2
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2007
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.14
    •  
  • 4550 Nicole Way Riverside, CA 3
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 1795 Yvonne Court Riverside, CA 5
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 2007
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $1.19
    •  
PROPERTY LISTING DETAILS
Patricia Jardillier
Better Homes And Gardens Real Estate Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21050259
Last Updated: 03/13/2021
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