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6743 Rycroft Drive Riverside, CA 92506

4 Beds 3 Baths 2,175 sqft Built 1977

$635,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $291.95
  • 4 Days on Market
  • MLS # : IV21018102
  • Updated Date : 01/29/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,175 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Champions

Listing Agent's Description

Canyon Crest - single story POOL home. This home exudes pride of ownership. Take in the magnificent beveled glass, double front doors. Plenty of room for family to gather in the formal living room with fireplace and dining room. Relax in the separate family room with fireplace. Upgraded kitchen with ample counterspace and cupboards. Master suite overlooking backyard. Three additional bedrooms. Backyard features a wrap around patio, fenced in pool and spa, extra large lawn area. End your day gazing upon a wonderful sunset.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9
Earhart Middle School Middle Unknown NA

Earhart Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 37
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating

Earhart Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$571,500$698,500$635,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,206
Property Tax -$608
Property Insurance -$80
Property Management Fees -$160
CASH FLOW
-$343

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.

$635,000

PROJECTED PRICE

$2,710

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-$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$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$14,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,713

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6503$2,7004$2,7105$2,800
$2,800
RENT COMPS ANALYSIS
  • 6743 Rycroft Drive Riverside, CA 4
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.25
    •  
  • 5957 Wimbledon Drive Riverside, CA 1
    • 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
    •  
  • 1537 Tonia Court Riverside, CA 2
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.21
    •  
  • 1508 Via Vista Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1987
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
  • 1145 Melville Drive Riverside, CA 5
    • 4 beds 4 baths ∙ 2,279 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,279 Sqft ∙ Built 1987
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.23
    •  
PROPERTY LISTING DETAILS
Susan Wolf
Better Homes And Gardens Real Estate Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21018102
Last Updated: 01/29/2021
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