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11250 Yearling Street Riverside, CA 92505

3 Beds 3 Baths 2,079 sqft Built 1977

$575,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $276.58
  • 3 Days on Market
  • MLS # : IV21019222
  • Updated Date : 01/29/2021 at 15:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,079 sqft
  • Baths : 2 full , 1 half
Listing Agent

Grove Realty

Listing Agent's Description

Gorgeous home located in a quiet neighborhood on a large lot! This home was recently remodeled with wood-look ceramic tile, beautiful smooth finish on walls and ceilings, recessed lighting, dual pane Milgard windows, and plantation shutters throughout! The living room and family room are both spacious, which is great for family gatherings. The family room features a large fireplace and large sliding glass door to the backyard. The kitchen was also recently remodeled with granite counter tops, soft close white shaker cabinets and Kitchen Aid black stainless steel appliances. There is also a walk-in pantry! The bedrooms are spacious and all have ceiling fans. The bathrooms feature granite counters, and newer tile floors and showers. The backyard is absolutely beautiful! Gorgeous landscaping, sparkling swimming pool and spa, block walls, alumawood patio cover with ceiling fan and large concrete slab for basketball or other games! You also have privacy and views of the hills in your backyard! RV access as well as a 2 car garage (with 220V) and plenty of driveway space. Hidden Valley Bike Trail, Hidden Valley Nature Center and Santa Ana River Trail are all close by. No HOA and LOW taxes! Do not miss this fabulous 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 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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,997
Property Tax -$578
Property Insurance -$78
Property Management Fees -$153
CASH FLOW
-$206

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.

$575,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.45%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$19,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,862

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4503$2,6004$2,700
$2,700
RENT COMPS ANALYSIS
  • 11250 Yearling Street Riverside, CA 3
    • 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.25
    •  
  • 3979 California Avenue Norco, CA 1
    • 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
    •  
  • 1020 Carriage Drive Norco, CA 2
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.41
    •  
  • 283 8th Street Norco, CA 4
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.54
    •  
PROPERTY LISTING DETAILS
Marni Jimenez
Grove Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21019222
Last Updated: 01/29/2021
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