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5930 Courtland Drive Riverside, CA 92506

4 Beds 2 Baths 2,553 sqft Built 1963

$674,900

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $264.36
  • 2 Days on Market
  • MLS # : IV21005153
  • Updated Date : 01/09/2021 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,553 sqft
  • Baths : 2 full
Listing Agent

Better Homes And Gardens Real Estate Champions

Listing Agent's Description

Welcome to beautiful Canyon Crest and this sprawling single-story home on a huge lot. This estate is tucked away in a tranquil setting but still close enough to major services for a quick trip for supplies. With 4bd and 2ba, this home includes separate living and dining rooms plus formal dining. The kitchen is spacious and features an island, plenty of storage, homework/bill-pay station and all the modern appliances. Three guest bedrooms as large and inviting, with one currently being used as an office. The main suite is huge and features built-ins, walk-in closet and ensuite with walk-in shower. Outside you'll find the perfect setting for gatherings, with inlaid brick and planters, plus a barbecue station and huge covered area. Check out the calming coy pond in the corner, filled with coy that come like pets when they see someone approach. Other features include a workshop, storage shed and gated RV parking. This wonderful home is close to schools, services, shopping and easy freeway access.

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: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Castle View Elementary School Primary Regular 609 24 5
Castle View Elementary School Middle Regular 609 24 5
Poly High School High Regular 2,777 106 6

Castle View Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Castle View Elementary School

  • Education Level: Middle
  • # of students: 609
  • # of teachers: 24
5
GreatSchools Rating

Poly High School

  • Education Level: High
  • # of students: 2,777
  • # of teachers: 106
6
GreatSchools Rating
 

$607,410$742,390$674,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,344
Property Tax -$646
Property Insurance -$89
Property Management Fees -$156
CASH FLOW
-$586

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.

$674,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$10k-$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$184,599

INVESTMENT

$184,599

Down Payment
$168,725
Rehab Estimate
$5,750
Closing Costs
$10,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,344

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,725
Loan Amount $506,175
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,744

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6504$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 5930 Courtland Drive Riverside, CA 3
    • 4 beds 2 baths ∙ 2,553 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,553 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.04
    •  
  • 1505 Via Tioga Riverside, CA 1
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1967
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 5110 Pearblossom Drive Riverside, CA 2
    • 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1970
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
  • 6842 Rycroft Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1978
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
  • 5670 Argyle Way Riverside, CA 5
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1961
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Tim Hardin
Better Homes And Gardens Real Estate Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21005153
Last Updated: 01/09/2021
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