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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $226.98
- 5 Days on Market
- MLS # : IV21002796
- Updated Date : 01/06/2021 at 17:06
CONSTRUCTION
- Beds : 5
- Floor Size : 2,335 sqft
- Baths : 2 full
Listing Agent
Westcoe Realtors Inc
Listing Agent's Description
Welcome home to this beautiful Ranch style property located on a quiet cul-de-sac! Designed with two Master Bedrooms…each at opposite sides of the home, along with three spacious guest bedrooms makes this perfect for a large or multigenerational family! The spacious family room invites friends and family to an open beamed ceiling along with a used brick wood burning fireplace! The spectacular remodeled kitchen features granite counters, decorative backsplash with Travertine, elegant cabinetry with soft close drawers and doors, recessed and pendant lighting…truly a chef’s dream! An eye-catching stonework fireplace adds charm and character to the formal living room. Plenty of natural light shines through with the oversized picture window! Additional enhancements include dual pane windows, new vinyl plank flooring, new plush carpeting, recessed lighting, and new soft accent interior paint! The huge backyard offers a covered patio and plenty of room to roam! The long driveway leads to a detached three car garage. Tons of space for RV parking too! Behind the garage is even more land…perfect for a garden, a shop, or additional storage! Come and explore this beautiful home with tons of charm and character!
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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 Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: La Sierra Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,520 |
| EXPENSES | Loan Payment | -$1,841 |
| Property Tax | -$537 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$149 | |
|
CASH FLOW
-$90
|
||
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.
$530,000
PROJECTED PRICE
$2,520
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 11.6% |
| 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
$146,200
LOAN DETAILS
$1,841
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $132,500 |
| Loan Amount | $397,500 |
4.58
YEARS SAVED
$25,786
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,520
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,569
COMP ESTIMATED VALUE -
$1.1
COMP AVG. RENT PER SQFT
Comps Range
-
5429 Rose Avenue Riverside, CA 3
- 5 beds 2 baths ∙ 2,335 Sqft ∙ Built 1958 5 beds 2 baths ∙ 2,335 Sqft ∙ Built 1958
- Rent
- Rent Per SQFT
- $2,520
- $1.08
-
5084 Las Lindas Way Riverside, CA 1
- 4 beds 1 baths ∙ 2,140 Sqft ∙ Built 1978 4 beds 1 baths ∙ 2,140 Sqft ∙ Built 1978
LEASED 02/22/20- Rent
- Rent Per SQFT
- $2,295
- $1.07
-
4307 Tyler Street Riverside, CA 2
- 5 beds 3 baths ∙ 2,529 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,529 Sqft ∙ Built 1977
LEASED 03/01/20- Rent
- Rent Per SQFT
- $2,450
- $0.97
-
4393 Tyler Street Riverside, CA 4
- 5 beds 1 baths ∙ 2,100 Sqft ∙ Built 1970 5 beds 1 baths ∙ 2,100 Sqft ∙ Built 1970
LEASED 10/29/20- Rent
- Rent Per SQFT
- $2,650
- $1.26
PROPERTY LISTING DETAILS
Westcoe Realtors Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21002796
Last Updated: 01/06/2021
