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10925 Cleveland Avenue Riverside, CA 92503

3 Beds 3 Baths 2,554 sqft Built 1986

$724,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $283.83
  • 39 Days on Market
  • MLS # : IG20250310
  • Updated Date : 01/08/2021 at 21:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,554 sqft
  • Baths : 3 full
Listing Agent

Realty One Group West

Listing Agent's Description

Rare opportunity to live in this Victoria Grove estates neighborhood! This 3 bed, 3 full bath PLUS OFFICE home boasts 2554sf including permitted game room/sunroom (not included in assessor square footage), attached 3 car garage, newer windows, kitchen with matching chef's Kenmore Pro appliances including a built in refrigerator, dual convection ovens, microwave, 6 burner gas cooktop with griddle option and Pro series hood and new Whirlpool D/W. Master bedroom has dual closets. Dining room is currently being used as a music room and has a closet. Front yard is drought tolerant, while back yard has more fruit trees and vines than I can mention here (25 of them! see amendments), an herb garden and raised box garden plus a beautiful pool and spa, brand new chicken coupe and run, 3 sheds, lamp post lighting, and RV PARKING space all in the foreground of a beautiful mountain view! The exterior of this home has been "painted" with Tex-Cote (can reduce your cooling costs up to 21.9% and offers a lifetime warranty, according to the manufacturer)!!

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: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k518k

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

Neighborhood: La Sierra South

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9542106

* 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 Hills Elementary School Primary Regular 832 32 9
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown 1,353 53 NA

Lake Hills Elementary School

  • Education Level: Primary
  • # of students: 832
  • # of teachers: 32
9
GreatSchools Rating

Arizona Middle School

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

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$652,410$797,390$724,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,518
Property Tax -$717
Property Insurance -$89
Property Management Fees -$145
CASH FLOW
-$1,019

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.

$724,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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$500k$1.0M$1.5M$2.0M$2.5M

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$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,849

INVESTMENT

$197,849

Down Payment
$181,225
Rehab Estimate
$5,750
Closing Costs
$10,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,225
Loan Amount $543,675
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$90

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,750

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6003$2,7004$2,800
$2,800
RENT COMPS ANALYSIS
  • 10925 Cleveland Avenue Riverside, CA 1
    • 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.96
    •  
  • 16223 Blue Haven Court Riverside, CA 2
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2000
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
  • 17208 Woodentree Lane Riverside, CA 3
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.02
    •  
  • 17901 Orangewood Lane Riverside, CA 4
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2001
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tammy Johnson
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20250310
Last Updated: 01/08/2021
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