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11021 Sierra Tree Lane Riverside, CA 92505

3 Beds 3 Baths 1,958 sqft Built 1990

$559,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $285.96
  • 4 Days on Market
  • MLS # : IV21023023
  • Updated Date : 02/04/2021 at 16:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,958 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Horizon

Listing Agent's Description

Beautifully remodeled three bedroom, two and one half bath home on nicely maintained residential cul d sac street in the La Sierra area of Riverside. There is easy access to both the 91 and 15 fwys, the home is close to parks, shopping (including the Galleria at Tyler), worship centers, La Sierra University and local public and private schools. The exterior has been freshly painted, there is a new covered patio, the home sits on a large lot and there is the potential of more than 50' of RV parking. The kitchen has newer cabinets, new granite counters and back splash, new stainless appliances and an open view of the back yard and snow covered mountains. There are beautiful new laminate and re-conditioned wooden floors, the bathrooms have been remodeled, all interior paint is new and looks very fresh and the family room has a cozy fireplace. In addition to three bedrooms upstairs, the third car garage has been professionally converted into a fully enclosed work room suitable for multiple purposes. The home has a new water heater and the high efficiency forced air conditioning and heat are new as well. This is not a flip property but a long time owner remodeled and upgraded the home to prepare it for sale.

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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 Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k498k

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

Neighborhood: La Sierra Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672150

* 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
Twinhill Elementary School Primary Regular 570 21 4
Loma Vista Middle School Middle Regular 1,070 43 4
Norte Vista High School High Regular 2,189 86 3

Twinhill Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 21
4
GreatSchools Rating

Loma Vista Middle School

  • Education Level: Middle
  • # of students: 1,070
  • # of teachers: 43
4
GreatSchools Rating

Norte Vista High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 86
3
GreatSchools Rating
 

$503,910$615,890$559,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,945
Property Tax -$567
Property Insurance -$75
Property Management Fees -$132
CASH FLOW
-$478

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.

$559,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.6%
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$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$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,2503$2,4004$2,4955$2,695
$2,695
RENT COMPS ANALYSIS
  • 11021 Sierra Tree Lane Riverside, CA 1
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.14
    •  
  • 3979 California Avenue Norco, CA 2
    • 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.18
    •  
  • 6257 Longmeadow Street Riverside, CA 3
    • 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2007
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 11500 Park Trails Street Riverside, CA 4
    • 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
    •  
  • 4629 Waterdale Court Riverside, CA 5
    • 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 2002
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.30
    •  
PROPERTY LISTING DETAILS
Bill O'rafferty
Re/max Horizon
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21023023
Last Updated: 02/04/2021
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