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5251 Sierra Vista Avenue Riverside, CA 92505

3 Beds 1 Baths 1,624 sqft Built 1963

INVESTimate

$450,000

List Price

$1,860

$1,674 - $2,046

Rent Est.

$488,475  ( +8.55%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1963
  • Price/Sqft : $277.09
  • 14 Days on Market
  • MLS # : DW20164890
  • Updated Date : 08/24/2020 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate - Rossmoor

Listing Agent's Description

Welcome Home, add your own touch... this is in a great location and has easy freeway access. This cozy home situated within walking distance to Valley View Elementary School, La Sierra Park, La Sierra Academy Preparatory School (k-12), and La Sierra University! You will appreciate the sense of comfort and privacy this home has to offer. This is a 3 bed 2 bath, boasting a spacious living room with a beautiful fireplace and a large dining area. Over-sized bedrooms with large closets for your storage needs. NEW copper plumbing, windows ,air conditioner. The property also sits on a 10,000+ sq.ft. lot that includes, 6 fruitful trees (2 avocado, mango , lime, mespilus and macadamia. You must see it to appreciate it!

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: La Sierra

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $142k484k

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

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672141

* 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,660
Property Tax -$456
Property Insurance -$67
Property Management Fees -$110
CASH FLOW
-$432

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.

$450,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.55%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8603$2,0004$2,300
$2,300
RENT COMPS ANALYSIS
  • 5251 Sierra Vista Avenue Riverside, 2
    • 3 beds 1 baths ∙ 1,624 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,624 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.15
    •  
  • 11256 Coolwater Drive Riverside, 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1977
    LEASED 03/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.18
    •  
  • 5118 Peacock Lane Riverside, 3
    • 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1954
    LEASED 03/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.14
    •  
  • 11364 Doverwood Drive Riverside, 4
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1958
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.18
    •  
PROPERTY LISTING DETAILS
Lorena Carmack
First Team Real Estate - Rossmoor
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20164890
Last Updated: 08/24/2020
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