Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5253 Stonewood Drive Riverside, CA 92506

3 Beds 2 Baths 1,766 sqft Built 1955

$507,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $287.09
  • 4 Days on Market
  • MLS # : IV20221247
  • Updated Date : 11/05/2020 at 21:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,766 sqft
  • Baths : 2 full
Listing Agent

Tracy Salyer, Broker

Listing Agent's Description

Charming Cul de sac home located in beautiful Victoria Woods enter into the tile entryway in to this warm and inviting home that features 3 bedrooms and 2 bathrooms and an office. The kitchen has custom cabinets with pull outs and off kitchen dining area.There are shutters through out the home. The living room has a fireplace and sliders leading out in to the tranquil back yard that has mature landscape, 2 patios, a sparkling pool, a fountain, and fruit trees. The home has beautiful wood floors and carpet through out, lots of storage space, central air and heat, a whole house fan, The garage has an insulated garage door and a full work station. There is a circular driveway with room for an RV This neighborhood is established and located in a desirable school district.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Victoria Groves

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $144k729k

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

Neighborhood: Victoria Groves

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000120014001600180020002200240026002800Rent in $9672855

* 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
Alcott Elementary School Primary Regular 772 31 5
Alcott Elementary School Middle Regular 772 31 5
Poly High School High Regular 2,777 106 6

Alcott Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 31
5
GreatSchools Rating

Alcott Elementary School

  • Education Level: Middle
  • # of students: 772
  • # of teachers: 31
5
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$456,300$557,700$507,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,871
Property Tax -$491
Property Insurance -$70
Property Management Fees -$139
CASH FLOW
-$220

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.

$507,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,105

INVESTMENT

$140,105

Down Payment
$126,750
Rehab Estimate
$5,750
Closing Costs
$7,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,871

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,750
Loan Amount $380,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$19,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,3504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 5253 Stonewood Drive Riverside, CA 3
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.33
    •  
  • 2071 Rancho Drive Riverside, CA 1
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1964
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
  • 3059 Westridge Road Riverside, CA 2
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1955
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 2443 Gloucester Way Riverside, CA 4
    • 4 beds 1 baths ∙ 2,097 Sqft ∙ Built 1957 4 beds 1 baths ∙ 2,097 Sqft ∙ Built 1957
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.17
    •  
  • 2449 Rancho Drive Riverside, CA 5
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 1950
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.31
    •  
PROPERTY LISTING DETAILS
Tracy Lynn Salyer
Tracy Salyer, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20221247
Last Updated: 11/05/2020
BESbswy