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PROPERTY INFO
FACTS
- Single Family
- Built In 1959
- Price/Sqft : $268.29
- 2 Days on Market
- MLS # : IV21005105
- Updated Date : 01/09/2021 at 11:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,435 sqft
- Baths : 1 full
Listing Agent
James Pyle, Broker
Listing Agent's Description
Single Story 3 bedroom, 2 bath house. Recently upgraded with new vinyl windows, new furnaces, new vinyl flooring, new exterior doors and a new stucco coat, to seal all new windows and doors. Electrical and Plumbing have been upgraded. Kitchen and Bathrooms have newer plumbing fixtures and cabinetry. This is a great starter home for first time buyers, or an ideal home for a growing family or a clean investment property for an investor. Situated on a large corner lot, this house has a large private backyard, secured by block walls and chain link fencing, that is a safe place for children to play. Large side yard access off the driveway allows for vehicle or RV parking. Buyer and Buyer's agent to do all due diligence on this property. All information is deemed to be reliable, but is not guaranteed. Buyers to satisfy themselves to all aspects on this property, including, but not limited too, zoning, utilities and taxes. Property to be sold in "As Is" condition.
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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: La Sierra Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Sierra Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,160 |
| EXPENSES | Loan Payment | -$1,337 |
| Property Tax | -$390 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
$244
|
||
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.
$385,000
PROJECTED PRICE
$2,160
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 11.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| 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
$107,775
LOAN DETAILS
$1,337
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $96,250 |
| Loan Amount | $288,750 |
9.08
YEARS SAVED
$48,105
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$2,206
COMP ESTIMATED VALUE -
$1.54
COMP AVG. RENT PER SQFT
Comps Range
-
5080 Tyler Street Riverside, CA 2
- 3 beds 1 baths ∙ 1,435 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,435 Sqft ∙ Built 1959
- Rent
- Rent Per SQFT
- $2,160
- $1.51
-
5032 Red Bluff Road Riverside, CA 1
- 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1978
LEASED 05/29/20- Rent
- Rent Per SQFT
- $2,100
- $1.51
-
10110 Keegan Court Riverside, CA 3
- 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1978
LEASED 02/12/20- Rent
- Rent Per SQFT
- $2,200
- $1.59
-
10599 Cochran Avenue Riverside, CA 4
- 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1959
LEASED 01/15/20- Rent
- Rent Per SQFT
- $2,250
- $1.47
-
10841 Endicott Drive Riverside, CA 5
- 4 beds 2 baths ∙ 1,619 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,619 Sqft ∙ Built 1965
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,550
- $1.58
PROPERTY LISTING DETAILS
James Pyle, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21005105
Last Updated: 01/09/2021
