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787 Hacienda Drive Riverside, CA 92507

3 Beds 2 Baths 1,408 sqft Built 1969

$475,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $337.36
  • 5 Days on Market
  • MLS # : IV21038836
  • Updated Date : 02/26/2021 at 14:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,408 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Come check out this gorgeous renovated home! Single story home. Open concept with vaulted living room ceilings, fireplace and plenty of light. Large dining area. Remodeled kitchen with backsplash and renovated bathrooms. There are roof solar light tubes to let more sunshine in. Fresh paint inside and out, new flooring and windows throughout. Washer and dryer located inside. Large corner lot with a small manicured lot next door that is owned by the City of Riverside. Smaller concrete pad and electrical stubbed for future spa along with a larger patio and Alumiwood patio cover. The primary bedroom has with mirrored closet doors and its own en suite. Two additional bedrooms and a hall bathroom. Detached garage w/work bench. Quaint private courtyard. Newer AC and Roof. Shed stays Situated close to UCR.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
University Heights Middle School Middle Regular 824 36 4
John W. North High School High Regular 2,281 95 4
University Heights Middle School Middle Unknown NA

University Heights Middle School

  • Education Level: Middle
  • # of students: 824
  • # of teachers: 36
4
GreatSchools Rating

John W. North High School

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

University Heights Middle School

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

$427,500$522,500$475,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,650
Property Tax -$457
Property Insurance -$61
Property Management Fees -$113
CASH FLOW
-$361

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.

$475,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9953$2,4004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 787 Hacienda Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.36
    •  
  • 600 Central Avenue Riverside, CA 2
    • 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1982
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.56
    •  
  • 5439 Via Alberca Riverside, CA 3
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1980
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
  • 1404 Le Conte Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1962
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.38
    •  
  • 716 Hacienda Drive Riverside, CA 5
    • 4 beds 3 baths ∙ 1,538 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,538 Sqft ∙ Built 1971
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.56
    •  
PROPERTY LISTING DETAILS
Coleen Hyams
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21038836
Last Updated: 02/26/2021
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