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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1975
- Price/Sqft : $235.77
- 14 Days on Market
- MLS # : IG21026828
- Updated Date : 02/20/2021 at 09:39
CONSTRUCTION
- Beds : 4
- Floor Size : 2,502 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Partners
Listing Agent's Description
This all-original 1970s custom-built single story VIEW home is adjacent to the "Wood Streets" and backs to the Santa Ana riverbed. Sprawling open floor plan, fireplace, central air/heat, indoor laundry, step down living room, original kitchen that opens up into the family room, extra large attached 2-car garage with half bath, RV parking, pool-sized backyard, and a tile roof on a third of an acre.... in one of the quietest locations! And a front row view of the annual Mount Rubidoux fireworks show! Original owner.
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Rio Verde Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rio Verde Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,740 |
| EXPENSES | Loan Payment | -$2,049 |
| Property Tax | -$575 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$162 | |
|
CASH FLOW
-$133
|
||
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.
$589,900
PROJECTED PRICE
$2,740
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 8.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| 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
$162,074
LOAN DETAILS
$2,049
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $147,475 |
| Loan Amount | $442,425 |
4.5
YEARS SAVED
$26,503
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,740
LIST RENT -
$1.1
LIST RENT PER SQFT
-
$2,752
COMP ESTIMATED VALUE -
$1.1
COMP AVG. RENT PER SQFT
Comps Range
-
5313 Pinehurst Drive Riverside, CA 3
- 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 1975
- Rent
- Rent Per SQFT
- $2,740
- $1.10
-
5926 Avenue Juan Bautista Jurupa Valley, CA 1
- 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 1967
LEASED 07/26/20- Rent
- Rent Per SQFT
- $2,500
- $1.08
-
5616 Jurupa Avenue Riverside, CA 2
- 3 beds 1 baths ∙ 2,268 Sqft ∙ Built 1957 3 beds 1 baths ∙ 2,268 Sqft ∙ Built 1957
LEASED 03/14/20- Rent
- Rent Per SQFT
- $2,550
- $1.12
PROPERTY LISTING DETAILS
Re/max Partners
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21026828
Last Updated: 02/20/2021
