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10907 Collett Avenue Riverside, CA 92505

4 Beds 2 Baths 1,487 sqft Built 1967

$499,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $335.57
  • 14 Days on Market
  • MLS # : SW21142697
  • Updated Date : 07/10/2021 at 10:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,487 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

COMING SOON! Welcome home to this charming SINGLE story 4 Bed 2 Bath home! Perfect for a growing family or investor, this home boasts open concept living, Fireplace, canned lighting, recently painted inside and out, New Double-paned windows with Argon Gas to reduce noise and increase home efficiency, and an amazing New DOUBLE sliding door. This home offers a SPACIOUS backyard with a Lemon and Orange Tree, ready for your personal touch! You won’t find a better location with convenience to School, parks, and shopping. Just 25 minutes from Irvine or 35 minutes from Newport. Amazing opportunity for any commuter! NO HOA & LOW TAXES, you won’t find a better place to call HOME!

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: La Sierra

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $142k484k

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

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672141

* 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
Collett Elementary School Primary Regular 637 27 3
Arizona Middle School Middle Regular 1,111 42 4
La Sierra High School High Regular 2,137 91 4

Collett Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 27
3
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

La Sierra High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 91
4
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,733
Property Tax -$507
Property Insurance -$63
Property Management Fees -$133
CASH FLOW
-$177

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.

$499,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$17,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,242

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2503$2,2604$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 10907 Collett Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,487 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,487 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.52
    •  
  • 11507 Rancho Del Oro Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1987
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.54
    •  
  • 10599 Cochran Avenue Riverside, CA 2
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1959
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.47
    •  
  • 11924 Taylor Street Riverside, CA 4
    • 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,530 Sqft ∙ Built 1985
    LEASED 04/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.50
    •  
  • 11544 Inglewood Court Riverside, CA 5
    • 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 1978
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Celeste Hamilton
Allison James Estates & Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21142697
Last Updated: 07/10/2021
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