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5493 Skyloft Drive 
Riverside, CA
92509
4 Beds 3 Baths 2,919 sqft
Built 1991
INVESTimate
$599,900
List Price
$164,724
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PROPERTY INFO
FACTS
- Built In 1991
- Price/Sqft : $205.52
- 9 Days on Market
- MLS # : SW20164607
- Updated Date : 08/18/2020 at 13:56
CONSTRUCTION
- Beds : 4
- Floor Size : 2,919 sqft
- Baths : 3 full
Listing Agent
Signature Real Estate Group
Listing Agent's Description
If you are looking for a stunning spacious home with beautiful views of the surrounding mountains, look no further! This home is accompanied by 4 bedrooms, 3 baths, and 3 car garage in the heart of Jurupa Valley! Enjoy 2,919 sq. ft of completely REMODELED living space. Once you enter you can admire the upgraded travertine floors, custom stair banisters, granite kitchen countertops, remodeled bathrooms, brand new HVAC unit, and so much more. In the evening you can enjoy the beautiful sunsets outside of the kitchen window. This home has had one owner and has been very cherished. Dont forget the large half acre lot and RV ACCESS!!! NO HOA! Located just minutes from schools, the shopping plaza and the 60 Fwy. Do not miss out on this one! It won't last long.
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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: Rubidoux
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rubidoux
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,590 |
| EXPENSES | Loan Payment | -$2,213 |
| Property Tax | -$562 | |
| Property Insurance | -$98 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
-$436
|
||
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.
$599,900
PROJECTED PRICE
$2,590
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 8.48% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$164,724
LOAN DETAILS
$2,213
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $149,975 |
| Loan Amount | $449,925 |
2.17
YEARS SAVED
$10,218
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,590
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$2,510
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
5493 Skyloft Drive Riverside, 2
- 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $2,590
- $0.89
-
7795 Corte Castillo Jurupa Valley, 1
- 3 beds 3 baths ∙ 2,748 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,748 Sqft ∙ Built 2002
LEASED 03/04/19- Rent
- Rent Per SQFT
- $2,350
- $0.86
PROPERTY LISTING DETAILS
Signature Real Estate Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20164607
Last Updated: 08/18/2020
