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5085 Sierra Street Riverside, CA 92504

3 Beds 2 Baths 1,286 sqft Built 1963

$429,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $334.29
  • 4 Days on Market
  • MLS # : IV20228715
  • Updated Date : 11/02/2020 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 2 full
Listing Agent

Match-it Realty

Listing Agent's Description

Hurry on over to this single story home. Close to schools and shopping with a huge spacious yard with block wall fencing. Home has a basketball court in back with trees and yard area. The front yard is gated and fenced for privacy. It also features a nice front porch to relax on and watch the kids play in front yard. The kitchen has a large open floor plan that opens to living room with a wood burning fireplace. The living room is roomy with views of the large covered patio. Breakfast bar in kitchen for convenience when grabbing a quick bite. Two car garage with laundry facilities. Family owned for many years and great location.

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: Magnolia Center

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $118k484k

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

Neighborhood: Magnolia Center

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8742101

* 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
Jefferson Elementary School Primary Regular 910 35 5
Jefferson Elementary School Middle Regular 910 35 5
Ramona High School High Magnet 2,160 85 4

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 35
5
GreatSchools Rating

Jefferson Elementary School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 35
5
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,586
Property Tax -$419
Property Insurance -$58
Property Management Fees -$106
CASH FLOW
-$379

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.

$429,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.7%
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-$5.0k$0.0$5.0k$10k

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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7903$1,8004$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 5085 Sierra Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.39
    •  
  • 6729 Burnside Court Riverside, CA 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1956
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.33
    •  
  • 5049 Brooklawn Place Riverside, CA 3
    • 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 1977
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.37
    •  
  • 4770 Gardena Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1965
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.42
    •  
  • 5935 Grand Avenue Riverside, CA 5
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1956
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.47
    •  
PROPERTY LISTING DETAILS
Rob Matchett
Match-it Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20228715
Last Updated: 11/02/2020
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