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10974 Periwinkle Way Riverside, CA 92503

3 Beds 3 Baths 1,533 sqft Built 2013

$469,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $305.94
  • 10 Days on Market
  • MLS # : IV20241471
  • Updated Date : 12/04/2020 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,533 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Blackstone Re

Listing Agent's Description

Gorgeously upgraded darling rare corner 3 bed, 2.5 bath home inside the premiere gated Riverwalk Vista gated community that boasts resort like pool, jacuzzi, BBQs, dog trails and parks for the kids! Front covered porch greets you, then welcome home into your light and bright Open Concept Kitchen/Family Room features beautiful granite counter that extends into high top breakfast bar, espresso cupboards, pantry and breakfast nook complimented with stainless steel appliances/fixtures and adorned with recessed lighting. Walls are hues of grey trimmed in crisp white baseboards, doors, and dual pane windows. Downstairs is completely tiled and opens up through sliding glass door to your lovely outdoor entertaining space with alumawood patio cover w/lighted ceiling fan. Underneath patio was masterfully tiled also. Back yard patio is trimmed perfectly with double planter retaining wall on easy to maintain Rainbird drip system. SMART HOME THERMOMETER INSTALLED to control temperature by phone. BRAND NEW LVP WOOD FLOORING COVERS STAIRWAY AND ENTIRE SECOND LEVEL! Spacious bedroom upstairs greets you with walk in closet and views. Clever upstairs design features conveniently located laundry room/linen closet that separate Master bedroom from other bedrooms. Master bedroom boasts en-suite with double sinks, espresso cupboards walk in shower and oversized walk in closet. 3rd bedroom upstairs also good size. Tankless water heater inside 2 car remote controlled garage.

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
 

$422,100$515,900$469,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,730
Property Tax -$476
Property Insurance -$64
HOA -$210
Property Management Fees -$122
CASH FLOW
-$543

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.

$469,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,242

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,1003$2,1004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 10974 Periwinkle Way Riverside, CA 1
    • 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.34
    •  
  • 3940 Polk Street Riverside, CA 2
    • 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2008
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.51
    •  
  • 3850 Polk Street Riverside, CA 3
    • 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2006
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.51
    •  
  • 3318 Clipstone Court Riverside, CA 4
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2008
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.36
    •  
  • 3397 Greenpark Lane Riverside, CA 5
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2012
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.47
    •  
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 #: IV20241471
Last Updated: 12/04/2020
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