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5216 Sierra Vista Avenue Riverside, CA 92505

3 Beds 2 Baths 1,558 sqft Built 1956

$549,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $352.37
  • 7 Days on Market
  • MLS # : IV21011059
  • Updated Date : 01/20/2021 at 17:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Castle Realty Group Inc.

Listing Agent's Description

Updated and additions made, turf and concrete on the back yard, Title shows 3 bed 2 bath however owner has added additional room and almost finished other bed and bath. Close to la Sierra university, close to shopping, schools and freeways. Additions have been requested permits but not approved, seller has blue prints and it’s ready for resubmitting and approval House ‘sold as is’

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sierra Vista Rancho

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k484k

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

Neighborhood: Sierra Vista Rancho

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9652101

* 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
 

$494,100$603,900$549,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,907
Property Tax -$556
Property Insurance -$65
Property Management Fees -$123
CASH FLOW
-$570

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.

$549,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,504

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0803$2,250
$2,250
RENT COMPS ANALYSIS
  • 5216 Sierra Vista Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.34
    •  
  • 11678 Valverde Avenue Riverside, CA 1
    • 4 beds 3 baths ∙ 1,879 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,879 Sqft ∙ Built 1973
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 10599 Cochran Avenue Riverside, CA 3
    • 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
    •  
PROPERTY LISTING DETAILS
Oswaldo Yanez Canton
Castle Realty Group Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21011059
Last Updated: 01/20/2021
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