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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $195.12
- 20 Days on Market
- MLS # : IG20263241
- Updated Date : 01/10/2021 at 12:20
CONSTRUCTION
- Beds : 4
- Floor Size : 2,870 sqft
- Baths : 2 full , 1 half
Listing Agent
Your Home Sold Guaranteed Re
Listing Agent's Description
Woodcrest area! Run don't walk to this gorgeous move-in ready home!! The minute you arrive to the property you will feel like you are home. This immaculate home offers plenty of room for everyone with four bedrooms, formal living and dining room, a family room and loft upstairs. The minute you walk inside you will be greeted by the open floor plan, with high ceilings and plenty of natural light. The family room opens up to the kitchen and it leads to the backyard which is perfect for your entertainment needs. Enjoy your beautiful backyard with plenty of fruit trees and a relaxing feel. Walk upstairs and you will find three really good size secondary bedrooms and loft. The luxurious master suite that is suited for the queen and king of the house offers a very private feeling, walk in closets, dual sinks and a gorgeous views of the mountains. Did I mention that it has the possibility for a RV access. You'll have access to the best schools in Riverside area such as Martin Luther King Jr. High School, Miller Middle School and Mark Twain Elementary School!!!
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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: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,650 |
| EXPENSES | Loan Payment | -$1,945 |
| Property Tax | -$535 | |
| Property Insurance | -$97 | |
| HOA | -$30 | |
| Property Management Fees | -$156 | |
|
CASH FLOW
-$113
|
||
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.
$560,000
PROJECTED PRICE
$2,650
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$154,150
LOAN DETAILS
$1,945
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $140,000 |
| Loan Amount | $420,000 |
4.5
YEARS SAVED
$25,907
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,650
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$2,662
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 10/22/19- Rent
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- $2,700
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LEASED 07/13/20- Rent
- Rent Per SQFT
- $2,875
- $0.90
PROPERTY LISTING DETAILS
Your Home Sold Guaranteed Re
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20263241
Last Updated: 01/10/2021
