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5614 Norwalk Court Riverside, CA 92505

4 Beds 3 Baths 1,954 sqft Built 1990

$559,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $286.54
  • 17 Days on Market
  • MLS # : IG21029427
  • Updated Date : 02/27/2021 at 10:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,954 sqft
  • Baths : 3 full
Listing Agent

Re/max Partners

Listing Agent's Description

HOME IS WHERE YOUR HEART IS... This Stunning Property has been all Rehabbed and is like Brand New! New Designer Exterior Paint, New Perfectly appointed Interior Paint all done in really light soft Grey Tones! The New Vinyl Wood like Flooring compliments the Soft Grey Walls! The Carpeting is also New and all done in the Grey tones! The Kitchen is just off the Family Room and also leads to the Formal Dining Room. This Chefs Kitchen is all done in Quartz Counter Tops and has Brand New Stainless Steel Appliances, New Stainless Sink, New Fixtures thru-out home. This Family Kitchen offers a Cozy Breakfast nook for dining! All Bathrooms have matching New Quartz Counter tops. The Master Bedroom Bath has New Tiled in Shower with New Glass Shower which extends around the Roman Tub and also has New Quartz Counter Tops on the vanity. This 4 Bedroom Home also offer a Down stairs Bedroom and Bath which could be used as Guest Quarters! So many new amenities to this property. New Brushed Nickel Fixtures, New Chandeliers and lighting thru-out, New Toilets', New Garage Doors, etc... Partial New Fencing.and is on a Cul-de-Sac street. What are you Waiting For! Make this Beautiful Home Yours Today! Freeway Close to Everything! This property is right next to Corona not way into Riverside which makes for closer comminuting to Orange County!

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 Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k498k

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

Neighborhood: La Sierra Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672150

* 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
Twinhill Elementary School Primary Regular 570 21 4
Loma Vista Middle School Middle Regular 1,070 43 4
Norte Vista High School High Regular 2,189 86 3

Twinhill Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 21
4
GreatSchools Rating

Loma Vista Middle School

  • Education Level: Middle
  • # of students: 1,070
  • # of teachers: 43
4
GreatSchools Rating

Norte Vista High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 86
3
GreatSchools Rating
 

$503,910$615,890$559,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,945
Property Tax -$567
Property Insurance -$75
Property Management Fees -$145
CASH FLOW
-$281

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.

$559,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$13,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,482

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,4504$2,4955$2,695
$2,695
RENT COMPS ANALYSIS
  • 5614 Norwalk Court Riverside, CA 3
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.25
    •  
  • 4470 Guy Court Riverside, CA 1
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.22
    •  
  • 6257 Longmeadow Street Riverside, CA 2
    • 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2007
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 11500 Park Trails Street Riverside, CA 4
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2006
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.29
    •  
  • 4629 Waterdale Court Riverside, CA 5
    • 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 2002
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.30
    •  
PROPERTY LISTING DETAILS
Candi Choumas
Re/max Partners
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21029427
Last Updated: 02/27/2021
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