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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $230.93
- 96 Days on Market
- MLS # : IV20224677
- Updated Date : 01/25/2021 at 17:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,927 sqft
- Baths : 2 full , 1 half
Listing Agent
Eagle Real Estate And Property Management Inc.
Listing Agent's Description
3 Bedroom, 3 Bath Condo in Desirable Coronado Village Riverwalk Community, No Common Walls, Central Heat and Air, Painted and New Carpet 2 Years Ago, Ceiling Fans, Custom Window Coverings, Living Room, Family Room, Dining Room, Kitchen with Ceramic Tile Counters, Island, Dishwasher, Stove, Built-in Microwave and Lots of Cabinets, Large Master Bedroom, Large Walk-in Closet, Master Bath has Roman Tub, Separate Shower and Two Sinks, Jack and Jill Upstairs Bath Room, Inside Laundry Room, Hugh Loft, 2 Car Garage with Auto Opener, Auto Sprinklers front and Back, The Community Features a Community Pool, Playgrounds and Picnic Areas, Walking Distance to La Sierra University, Close to 91 Freeway and Metro Link.
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MARKET HIGHLIGHTS
- 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)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: La Sierra
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Sierra
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,430 |
| EXPENSES | Loan Payment | -$1,546 |
| Property Tax | -$452 | |
| Property Insurance | -$74 | |
| HOA | -$97 | |
| Property Management Fees | -$143 | |
|
CASH FLOW
$118
|
||
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.
$445,000
PROJECTED PRICE
$2,430
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 8.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$123,675
LOAN DETAILS
$1,546
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $111,250 |
| Loan Amount | $333,750 |
7.17
YEARS SAVED
$38,960
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,430
LIST RENT -
$1.26
LIST RENT PER SQFT
-
$2,433
COMP ESTIMATED VALUE -
$1.26
COMP AVG. RENT PER SQFT
Comps Range
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4417 Lakeview Court Riverside, CA 3
- 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
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- Rent Per SQFT
- $2,430
- $1.26
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4402 Water Lane Riverside, CA 1
- 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
LEASED 07/16/20- Rent
- Rent Per SQFT
- $2,300
- $1.19
-
4470 Guy Court Riverside, CA 2
- 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
LEASED 09/15/20- Rent
- Rent Per SQFT
- $2,350
- $1.22
-
4422 Pondmoor Drive Riverside, CA 4
- 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
LEASED 01/05/21- Rent
- Rent Per SQFT
- $2,550
- $1.32
-
4421 Pondmoor Drive Riverside, CA 5
- 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
LEASED 11/06/20- Rent
- Rent Per SQFT
- $2,550
- $1.32
PROPERTY LISTING DETAILS
Eagle Real Estate And Property Management Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20224677
Last Updated: 01/25/2021
