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5788 Tridente Way Riverside, CA 92505

4 Beds 3 Baths 2,416 sqft Built 2015

$495,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $204.88
  • 2 Days on Market
  • MLS # : CV20231471
  • Updated Date : 11/02/2020 at 16:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,416 sqft
  • Baths : 3 full
Listing Agent

Select Homes R.e. & Prop. Mgmt

Listing Agent's Description

Beautiful 4-bedroom, 3-bathroom energy-efficient home in the quiet and highly desired gated community of Tesoro at La Sierra. Entry into a bright open floorplan featuring the living room, kitchen, and dining room. One bedroom and bathroom downstairs. Kitchen features large center island, granite countertops, stainless-steel appliances, and walk-in pantry. Private patio off the dining room. Low-maintenance composite wood flooring downstairs. Upstairs features the master bedroom and bathroom, two additional bedrooms with a Jack-and-Jill bathroom, upstairs laundry room with sink and built-in cabinets, and a nook with built-in desk that can be used as a study area. Additional features include: tankless water heater, ceiling fans, attached 2-car garage, recessed lighting, built-in cabinetry, and more. This community offers a neighborhood pool area, barbecue area with outdoor tables and a children’s playground. Do not miss out on today’s low interest rates! This home is conveniently located near schools, shopping center, and parks.

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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

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
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,826
Property Tax -$501
Property Insurance -$86
HOA -$215
Property Management Fees -$148
CASH FLOW
-$266

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.

$495,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.51%

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$12,913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,5104$2,5505$2,700
$2,700
RENT COMPS ANALYSIS
  • 5788 Tridente Way Riverside, CA 3
    • 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.04
    •  
  • 5773 Tridente Way Riverside, CA 1
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2015
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 5182 Olivia Lane Riverside, CA 2
    • 3 beds 3 baths ∙ 2,355 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,355 Sqft ∙ Built 2012
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 5706 Nova Way Riverside, CA 4
    • 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 5
    • 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 2017
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Travis Black
Select Homes R.e. & Prop. Mgmt
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231471
Last Updated: 11/02/2020
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