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6084 Golden Terrace Drive Riverside, CA 92505

3 Beds 3 Baths 1,572 sqft Built 1989

$495,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k484k

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

Neighborhood: Golden Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9572136

* 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

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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 60% 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

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
$2,070
1$2,0702$2,1953$2,2504$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 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
Maelyn Galapir
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20257988
Last Updated: 12/20/2020
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