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5984 Windemere Way Riverside, CA 92506

4 Beds 2 Baths 2,319 sqft Built 1964

$675,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
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

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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

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

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$20k

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

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
$2,450
1$2,4502$2,5003$2,6504$2,8705$3,050
$3,050
RENT COMPS ANALYSIS
  • 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
Robert Murray
Crest Sotheby's International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20256837
Last Updated: 12/18/2020
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