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PROPERTY INFO
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’
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sierra Vista Rancho
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,235
LOAN DETAILS
$1,907
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,250 |
| Loan Amount | $411,750 |
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
-
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
Castle Realty Group Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21011059
Last Updated: 01/20/2021
