Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8501 Colusa Court Riverside, CA 92504

4 Beds 3 Baths 1,730 sqft Built 2000

$450,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $260.12
  • 5 Days on Market
  • MLS # : IG21044676
  • Updated Date : 03/05/2021 at 08:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,730 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw The Lakes

Listing Agent's Description

Turnkey Two Story Home in the desirable Village Parks Gated Community. Amazingly-Designed floor plan that reflects pride of ownership. Home has inviting wrap-around covered porch and view of park like green belt. Newly remodeled with new paint, new recess lighting and flooring. Entry has large living room with, window coverings and a door leading to private patio. Elegant remodeled kitchen, new paint, cabinets, granite counter tops, backsplash with stainless steel appliances. Upstairs you will find Large Master Suites with new carpet, new paint, ceiling fan and upgraded full bathroom. In addition you will find 3 additional bedrooms and a third remodeled bathroom. Convenient upstairs laundry room and linen cabinets. This home features two out door spaces, one fully gated side yard with expansive Alumawood covered patio and stamped concrete, firepit, custom retaining wall fully landscaped, perfect for entertaining. The second gated space is perfect for a patio sitting area. This is an end unit with more privacy, 2 car garage and 2 additional parking spaces. The community is pet friendly, has a playground with well maintained, tree lined walkways. Centrally located near Cal Baptist University, shopping, restaurants and 91fwy. This home is perfect and ready for the perfect buyers!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Presidential Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $128k484k

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

Neighborhood: Presidential Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9232101

* 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
Chemawa Middle School Middle Regular 896 41 4
Arlington High School High Regular 1,956 79 5
Chemawa Middle School Middle Unknown NA

Chemawa Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 41
4
GreatSchools Rating

Arlington High School

  • Education Level: High
  • # of students: 1,956
  • # of teachers: 79
5
GreatSchools Rating

Chemawa Middle School

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

$405,000$495,000$450,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,563
Property Tax -$435
Property Insurance -$69
HOA -$150
Property Management Fees -$136
CASH FLOW
-$53

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.

$450,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$22,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,387

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,300
$2,300
RENT COMPS ANALYSIS
  • 8501 Colusa Court Riverside, CA 3
    • 4 beds 3 baths ∙ 1,730 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,730 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.33
    •  
  • 8778 Gael Lane Riverside, CA 1
    • 4 beds 3 baths ∙ 1,706 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,706 Sqft ∙ Built 2006
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.35
    •  
  • 8401 Mimosa Tree Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1989
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.41
    •  
PROPERTY LISTING DETAILS
Norma Covarrubias
Kw The Lakes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21044676
Last Updated: 03/05/2021
BESbswy