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5078 Greenleaf Drive Riverside, CA 92505

3 Beds 1 Baths 1,354 sqft Built 1953

$439,999

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $324.96
  • 3 Days on Market
  • MLS # : IG21019757
  • Updated Date : 01/29/2021 at 19:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,354 sqft
  • Baths : 1 full
Listing Agent

Premier Realty & Consulting

Listing Agent's Description

Welcome to the most adorable home in the area! Home is located on a dead end road with only a few homes! Great Privacy! The home is located on almost 1/4 acre with a large green front yard and a wonderful front patio to enjoy a cup of coffee in the morning on! Enter the home and be amazed with the stunning hardwood floors and stunning Picture Window! Sit and soak up the view from the window while warming up by the fireplace. This home has 3 bedrooms, dining area, eat in kitchen as well as this wonderful family room! The full bathroom has the original type of tile that is so vintage and in style today!! Brand new AC unit makes this a great move in property! This property has been so well taken care of and you will be thrilled to call it yours! Wonderful location! Close to everything you need!

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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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $142k484k

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

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672141

* 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
Valley View Elementary School Primary Regular 394 15 2
Villegas Middle School Middle Regular 1,356 53 5
La Sierra High School High Regular 2,137 91 4

Valley View Elementary School

  • Education Level: Primary
  • # of students: 394
  • # of teachers: 15
2
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

La Sierra High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 91
4
GreatSchools Rating
 

$395,999$483,999$439,999

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,528
Property Tax -$445
Property Insurance -$60
Property Management Fees -$124
CASH FLOW
-$48

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.

$439,999

PROJECTED PRICE

$2,110

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $329,999
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$23,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,110
$2,110
RENT COMPS ANALYSIS
  • 5078 Greenleaf Drive Riverside, CA
    • 3 beds 1 baths ∙ 1,354 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,354 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.56
    •  
PROPERTY LISTING DETAILS
Elizabeth Kristensen
Premier Realty & Consulting
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21019757
Last Updated: 01/29/2021
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