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10730 Orchard View Lane Riverside, CA 92503

3 Beds 2 Baths 1,855 sqft Built 1986

$630,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $339.62
  • 6 Days on Market
  • MLS # : OC20261886
  • Updated Date : 12/22/2020 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

Xrealty.net

Listing Agent's Description

Tucked away in the La sierra hills is this Lovely jewel in Orchard View Estates. This special area was home to Riverside Citrus and when built, attention was made to insure privacy to residents. It is located on the West side of the city of Riverside, La sierra Neighborhood, close to Metro Link, Shopping centers, Close to schools. New paint inside, Beautiful patio to look at sunset. Come and see this beautiful home. Turn Key condition, ready to move in. Fruit trees, beautiful landscape.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Hills-Victoria Grove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $144k672k

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

Neighborhood: Lake Hills-Victoria Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9672743

* 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
Lake Mathews Elementary School Primary Regular 907 33 8
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Arlington High School High Regular 1,956 79 5

Lake Mathews Elementary School

  • Education Level: Primary
  • # of students: 907
  • # of teachers: 33
8
GreatSchools Rating

Frank Augustus Miller Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 40
8
GreatSchools Rating

Arlington High School

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

$567,000$693,000$630,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,324
Property Tax -$632
Property Insurance -$72
HOA -$37
Property Management Fees -$139
CASH FLOW
-$844

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.

$630,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.9%
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-$15k-$10k-$5.0k$0.0$5.0k

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$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,370

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2953$2,3004$2,3605$2,750
$2,750
RENT COMPS ANALYSIS
  • 10730 Orchard View Lane Riverside, CA 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.27
    •  
  • 17716 Streamside Lane Riverside, CA 1
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1989
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.35
    •  
  • 3465 Pickwick Street Riverside, CA 2
    • 4 beds 1 baths ∙ 1,826 Sqft ∙ Built 1969 4 beds 1 baths ∙ 1,826 Sqft ∙ Built 1969
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.26
    •  
  • 2730 Mcallister Street Riverside, CA 3
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1966
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
  • 10955 Cleveland Avenue Riverside, CA 5
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1986
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.35
    •  
PROPERTY LISTING DETAILS
Norman Domingo
Xrealty.net
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20261886
Last Updated: 12/22/2020
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