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10970 Renville Court Riverside, CA 92503

4 Beds 3 Baths 2,135 sqft Built 2015

$608,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $284.78
  • 3 Days on Market
  • MLS # : IV21051123
  • Updated Date : 03/13/2021 at 12:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,135 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Blackstone Re

Listing Agent's Description

MODEL HOME LUXURIOUS OPPULANCE WARMLY WELCOMES YOU INTO THIS 2135 SQUARE FEET, 4 BEDROOMS, 2.5 BATH STUNNING SPOTLESS RIVERWALK VISTA HOME ON CUL-DE-SAC STREET WITH VIEWS! NO NEIGHBORS BEHIND YOU! Over 113k in upgrades and it shows! Darling front porch greets you, and upon entrance your breath is taken away with custom new flooring that shines like marble, and looks like classy wood! Front office/possible bedroom/living room is your first room followed by a 1/2 bathroom. GEORGIOUS OPEN CONCEPT KITCHEN/FAMILY ROOM with white quartz counters, custom grey/tan backsplash with dark soft close wood cabinets run the entire length of kitchen, perfect for entertaining! Kitchen Island and stainless steel large sink/appliances are adorned with recessed lighting & tea lights and IT ALL OPENS WITH 2 DUAL SLIDERS THAT BRING THE OUTDOORS IN! OVERSIZED PATIO, with custom pavers, astroturf, patio string lighting & trimmed with lemon tree/beautiful shrubbery! NEW TAUPE WOOD LAMINATE stairway with dark wood staircase takes you upstairs to the LOFT with tons of windows for natural light. Dual paned windows have rich wood plantation shutters. First upstairs bedroom has walk-in closet! Laundry room with washer/dryer. Master bedroom features walk in closet with en-suite; custom walk in shower, large soaking tub, dual sinks with granite & dark cupboards. Third bedroom upstairs is next to the bathroom with dual sinks & tub/shower! 2 car remote garage. Close to the metro link, 91 freeway and shopping.

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: Valley View Farms

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $116k883k

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

Neighborhood: Valley View Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9112746

* 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
Orrenmaa Elementary School Primary Regular 596 23 4
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown 1,353 53 NA

Orrenmaa Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 23
4
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
 

$547,200$668,800$608,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,112
Property Tax -$617
Property Insurance -$79
HOA -$210
Property Management Fees -$154
CASH FLOW
-$562

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.

$608,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,870

INVESTMENT

$166,870

Down Payment
$152,000
Rehab Estimate
$5,750
Closing Costs
$9,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,112

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,000
Loan Amount $456,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,599

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,4954$2,6005$2,610
$2,610
RENT COMPS ANALYSIS
  • 10970 Renville Court Riverside, CA 5
    • 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.22
    •  
  • 4402 Water Lane Riverside, CA 1
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.19
    •  
  • 4470 Guy Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.22
    •  
  • 11500 Park Trails Street Riverside, CA 3
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2006
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.29
    •  
  • 16223 Blue Haven Court Riverside, CA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Michelle Carnley
Coldwell Banker Blackstone Re
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21051123
Last Updated: 03/13/2021
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