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5705 Ponta Way Riverside, CA 92505

4 Beds 3 Baths 2,732 sqft Built 2016

$545,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $199.49
  • 8 Days on Market
  • MLS # : IG21030610
  • Updated Date : 02/18/2021 at 15:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,732 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful and Upgraded 4-bedroom, 3-bathroom Energy-efficient Meritage Home in the quiet and highly desired gated community of Tesoro at La Sierra. You will love this corner lot location with plenty of patio space and lawn area. Private gated patio entryway leads to an open layout floor plan with recessed lighting and beautiful laminate wood flooring. Great room opens to the fabulous kitchen with a large center island, granite counter tops, pendant lighting, stainless steel appliances, walk-in pantry and your very own coffee bar! From the dining area you have a sliding glass door that opens to the patio that lets you bring the outdoors in for fun parties all summer and low maintenance yard complete with artificial turf. One bedroom & bathroom with shower are located on the main level, as well as extra storage under the staircase & access to the 2 cars attached garage. Upstairs features a loft with a nook with built-in desk that can be used as a study area. The master suite offers a large walk-in closet & spacious en suite bathroom with dual sinks, soaking tub and separate shower. Two additional bedrooms with custom murals on the wall, walk in closets and a Jack-and-Jill bathroom with dual sinks. Convenient upstairs laundry room with sink and built-in cabinets. This community offers a neighborhood pool area, barbecue area, green space and a tot lot for fun outdoors. This home is conveniently located near schools, shopping center, and parks. Low Taxes!

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: 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
 

$490,500$599,500$545,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,893
Property Tax -$552
Property Insurance -$93
HOA -$215
Property Management Fees -$158
CASH FLOW
-$231

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.

$545,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.49%

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$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,893

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,869

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6003$2,6004$2,6505$2,680
$2,680
RENT COMPS ANALYSIS
  • 5705 Ponta Way Riverside, CA 5
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.98
    •  
  • 5706 Nova Way Riverside, CA 1
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2016
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.05
    •  
  • 11014 Via Del Corso Riverside, CA 2
    • 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2017
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
  • 4237 Pondhill Court Riverside, CA 3
    • 5 beds 3 baths ∙ 2,431 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,431 Sqft ∙ Built 2001
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
  • 4285 Gardendale Court Riverside, CA 4
    • 4 beds 2 baths ∙ 2,654 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,654 Sqft ∙ Built 2001
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rizwana Qadir
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21030610
Last Updated: 02/18/2021
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