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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $314.89
- 8 Days on Market
- MLS # : PW20257988
- Updated Date : 12/20/2020 at 15:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,572 sqft
- Baths : 3 full
Listing Agent
Keller Williams Realty
Listing Agent's Description
Don’t miss out on the opportunity to become an owner of this lovely single family home located in the highly sought out area of La Sierra Hills. Nestled in a peaceful and quiet neighborhood that sits on a corner lot. Need RV parking? You got it! When entering the home you are greeted with double doors leading to the spacious formal living room, enjoy an abundance of natural lighting , cozy brick fire place, and beautiful upgraded bamboo wood floors all through the first level. Enjoy cooking your favorite meal overlooking the dining area in this open concept kitchen featuring pristine custom cabinets that provide ample storage space, granite counter tops, recessed lighting, top of the line ceiling fans and a powder room. Just right behind the glass sliding door you can take a break from your busy day outside in the massive backyard that is perfect for family gatherings and entertainment, with that amount of space you can take your imagination any where and add just about everything! The upstairs features one large master suite, two additional bedrooms, and the hallway bathroom that has been upgraded with newer light fixtures. The seller has done plenty of upgrades within the past few years; newer windows, carpets, water heater, electrical panel, and more. The home is finished with direct access to the spacious three car garage where you will also find your laundry area. This home is truly a must see, within minutes to the freeway, stores, restaurants and La Sierra University.
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Golden Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Golden Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,070 |
| EXPENSES | Loan Payment | -$1,826 |
| Property Tax | -$501 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$122 | |
|
CASH FLOW
-$445
|
||
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
$2,070
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 10.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| 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
$136,925
LOAN DETAILS
$1,826
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $123,750 |
| Loan Amount | $371,250 |
1.5
YEARS SAVED
$5,019
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,070
LIST RENT -
$1.32
LIST RENT PER SQFT
-
$2,087
COMP ESTIMATED VALUE -
$1.33
COMP AVG. RENT PER SQFT
Comps Range
-
6084 Golden Terrace Drive Riverside, CA 1
- 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $2,070
- $1.32
-
10120 Mandalay Court Riverside, CA 2
- 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1976
![property image]()
LEASED 04/06/20- Rent
- Rent Per SQFT
- $2,195
- $1.38
-
3979 California Avenue Norco, CA 3
- 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990
![property image]()
LEASED 01/24/20- Rent
- Rent Per SQFT
- $2,250
- $1.18
-
11030 Country Bluffs Road Riverside, CA 4
- 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1988
![property image]()
LEASED 07/03/19- Rent
- Rent Per SQFT
- $2,300
- $1.48
-
6257 Longmeadow Street Riverside, CA 5
- 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2007
![property image]()
LEASED 10/26/19- Rent
- Rent Per SQFT
- $2,400
- $1.27
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20257988
Last Updated: 12/20/2020
