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650 Taca Court Riverside, CA 92507

3 Beds 3 Baths 2,339 sqft Built 2007

$595,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $254.38
  • 3 Days on Market
  • MLS # : IV20260163
  • Updated Date : 12/18/2020 at 17:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,339 sqft
  • Baths : 3 full
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

This 3 bedroom, 3 bath home is located on a cul-de-sac in Canyon Crest should not be missed! Recently carpeted with a custom built cabinet in the den and dining room, both with fireplaces, crown molding and nice sized master with remodeled bath. Backyard is beautifully landscaped with stone fountain and firepit. Located just minutes from UCR, shopping and extremely convenient for commuters. Do not miss this opportunity!!

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
Emerson Elementary School Primary Regular 798 32 4
Emerson Elementary School Middle Regular 798 32 4
John W. North High School High Regular 2,281 95 4

Emerson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

Emerson Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,195
Property Tax -$570
Property Insurance -$84
Property Management Fees -$148
CASH FLOW
-$487

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.

$595,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.42%

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$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$15k

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$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$8,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,672

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5104$2,6005$3,100
$3,100
RENT COMPS ANALYSIS
  • 650 Taca Court Riverside, CA 3
    • 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.07
    •  
  • 1420 Lochaber Court Riverside, CA 1
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2000
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.13
    •  
  • 4560 Filson Street Riverside, CA 2
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2006
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
  • 5064 Trojan Court Riverside, CA 4
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1992
    property image
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
  • 1427 Kirkmichael Circle Riverside, CA 5
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1998
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.18
    •  
PROPERTY LISTING DETAILS
Laura Folsom
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20260163
Last Updated: 12/18/2020
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