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5105 Viceroy Avenue Norco, CA 92860

4 Beds 2 Baths 1,782 sqft Built 1974

$550,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $308.64
  • 8 Days on Market
  • MLS # : IG20227047
  • Updated Date : 10/30/2020 at 10:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Check out this Norco home, it's a handyman/fixer special in original condition, offering 1782 sq ft, 4 bedrooms, 2 bathrooms, leaded glass front door, living room with a ceiling fan, an arched opening leads to your kitchen, tile counters, 5 burner cooktop, glassware rack, nook, breakfast bar, family room with spacious ceilings, curved brick fireplace with gas logs, master bedroom, master bathroom with a patio door, large 20,038 sq ft (.46 acre) lot, full width patio & cover, extra garage with room for a workshop and extra storage on the second level, room for your horses behind the garage, your rear gate opens to the horse trail leading you to the riverbed trails, plenty of paved RV parking, 2 car garage in front with laundry hookups, culdesac location, located close by to the Hidden Valley Nature Center and Wildlife area with hiking/bird walks/ equestrian trails, offered at $550,000.

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: Norco Farms

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k643k

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

Neighborhood: Norco Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822630

* 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
Riverview Elementary School Primary Regular 319 12 5
Norco Intermediate School Middle Regular 751 31 7
John F. Kennedy Middle College High School High Magnet 646 22 7

Riverview Elementary School

  • Education Level: Primary
  • # of students: 319
  • # of teachers: 12
5
GreatSchools Rating

Norco Intermediate School

  • Education Level: Middle
  • # of students: 751
  • # of teachers: 31
7
GreatSchools Rating

John F. Kennedy Middle College High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 22
7
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,029
Property Tax -$511
Property Insurance -$70
Property Management Fees -$148
CASH FLOW
-$258

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.

$550,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.6%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,5004$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 5105 Viceroy Avenue Norco, CA 3
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.40
    •  
  • 11030 Country Bluffs Road Riverside, CA 1
    • 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1988
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
  • 1020 Carriage Drive Norco, CA 2
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.41
    •  
  • 11289 Mercury Court Jurupa Valley, CA 4
    • 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1976
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.52
    •  
  • 283 8th Street Norco, CA 5
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.54
    •  
PROPERTY LISTING DETAILS
Gene Pucelli
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20227047
Last Updated: 10/30/2020
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