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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $291.07
- 6 Days on Market
- MLS # : IV20256837
- Updated Date : 12/18/2020 at 14:08
CONSTRUCTION
- Beds : 4
- Floor Size : 2,319 sqft
- Baths : 2 full
Listing Agent
Crest Sotheby's International Realty
Listing Agent's Description
This inviting mid-century single level pool home offers private tranquility. Enter a private gated courtyard then pass through double doors to this home with open wood plank ceilings, travertine and wood flooring, plantation shutters, crown molding, new windows, upgraded baseboards and recessed lighting. The large great room features a stone fireplace, and built-ins; the formal dining room views the large fireplace and the sparkling salt-water through glass sliders. An upgraded kitchen, open to the family room, includes granite counter tops with custom maple cabinetry, a center island with breakfast bar and extra storage. Kitchen aid appliances include refrigerator, dishwasher, microwave and four burner cooktop. A spacious master bedroom is on one end of the house and overlooks the pool and lush landscape, it's ensuite with skylight, has been tastefully updated with dual sinks, and walk-in shower, next door is an office with a cozy fireplace and built-ins. The three other well proportioned bedrooms are on the other side of the house, one includes a slider out to a private patio. The main bathroom has also been updated with a shower in tub and a gorgeous wood vanity. This home also includes mini-split air conditioner/heaters in the office and bedroom, new attic insulation, new air conditioning compressor, motion detector lights, and security system. Canyon Crest offers it's residence tree lined streets, easy access to shopping, entertainment and private golf club.
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Canyon Crest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Canyon Crest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,870 |
| EXPENSES | Loan Payment | -$2,490 |
| Property Tax | -$646 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$169 | |
|
CASH FLOW
-$519
|
||
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.
$675,000
PROJECTED PRICE
$2,870
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$184,625
LOAN DETAILS
$2,490
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
2.08
YEARS SAVED
$11,317
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,870
LIST RENT -
$1.24
LIST RENT PER SQFT
-
$2,928
COMP ESTIMATED VALUE -
$1.26
COMP AVG. RENT PER SQFT
Comps Range
-
5984 Windemere Way Riverside, CA 4
- 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 1964 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $2,870
- $1.24
-
2443 Gloucester Way Riverside, CA 1
- 4 beds 1 baths ∙ 2,097 Sqft ∙ Built 1957 4 beds 1 baths ∙ 2,097 Sqft ∙ Built 1957
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,450
- $1.17
-
960 Country Club Drive Riverside, CA 2
- 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1967
LEASED 09/01/20- Rent
- Rent Per SQFT
- $2,500
- $1.25
-
5957 Wimbledon Drive Riverside, CA 3
- 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1972
LEASED 07/22/20- Rent
- Rent Per SQFT
- $2,650
- $1.32
-
6153 Bluffwood Drive Riverside, CA 5
- 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1977
LEASED 08/23/19- Rent
- Rent Per SQFT
- $3,050
- $1.31
PROPERTY LISTING DETAILS
Crest Sotheby's International Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20256837
Last Updated: 12/18/2020
