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

5717 Bolivar Street Riverside, CA 92505

3 Beds 2 Baths 1,518 sqft Built 1984

$490,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $322.79
  • 6 Days on Market
  • MLS # : IG21037327
  • Updated Date : 02/24/2021 at 19:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Come check out this beautifully upgraded single-family home located in the highly desired area of La Sierra Hills. This 3 bed/2 bath has been fully upgraded inside. The homeowners have spared no expense! Upgrades through out include an updated fireplace, newly remodeled kitchen with quartz countertops and soft close cabinets, newer carpeting, wood-look tile, over-sized baseboards, recessed lighting, dual pane windows and much more! All bathrooms have been fully updated along with new plumbing fixtures. The backyard boasts a new large covered patio that is perfect for entertaining any time of the year! Located only a short walk from Doty Trust park and close to many shopping centers, restaurants and entertainment. HURRY, THIS ONE WON'T LAST LONG!

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
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,702
Property Tax -$498
Property Insurance -$64
Property Management Fees -$127
CASH FLOW
-$240

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.

$490,000

PROJECTED PRICE

$2,150

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$12,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1003$2,1504$2,2505$2,600
$2,600
RENT COMPS ANALYSIS
  • 5717 Bolivar Street Riverside, CA 3
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.42
    •  
  • 11331 River Trail Court Riverside, CA 1
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2003
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.35
    •  
  • 4589 Bieber Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2002
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.37
    •  
  • 4545 Springleaf Lane Riverside, CA 4
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 2002
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.47
    •  
  • 11742 Tilden Place Riverside, CA 5
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1989
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.49
    •  
PROPERTY LISTING DETAILS
Manuel Ramos
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21037327
Last Updated: 02/24/2021
BESbswy