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11275 Swenson Street Riverside, CA 92505

5 Beds 3 Baths 2,856 sqft Built 1989

$865,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $302.87
  • 12 Days on Market
  • MLS # : PW21143123
  • Updated Date : 07/11/2021 at 19:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,856 sqft
  • Baths : 3 full
Listing Agent

Century 21 Award

Listing Agent's Description

Views views and more views! Perched at the top of Sierra Hills community, this home offers panoramic mountain & city views! Upon entering, this home boasts high vaulted ceilings and hardwood flooring throughout. The formal living and dining area are connects directly with kitchen. The light and bright country-style kitchen features open views of pool and patio area. Kitchen offers granite counter tops, stainless appliance and an additional dining area. This home offers 2 bedroom and 2 baths downstairs. One of which is a recently updated Mother In Law/ Guest Quarters (Perfect for rental unit), complete with its own living, dining, updated full bathroom and kitchenette (This unit has its own private entrance off the back of the home). The wrap-around staircase gives access to the 4 bedrooms upstairs, one of which is a large game room that’s currently being used as a bedroom. The master bedroom features high vaulted ceilings, large walk-in closet, fireplace and an extending private balcony to take in those spectacular views! Master bath includes custom shower, complete w/ bench seat, seamless glass entry door and dual shower heads. Heading outside, the paradise-like backyard offers a large attached covered patio which gives plenty of shade and features outdoor speakers. The sparkling pool and spa have recently been updated with stone tile and a waterfall feature. The brand new BBQ island, offers stainless grill, sink and storage. The new granite counter-tops offers plenty of counter space, and the large bar top presents plenty of poolside seating. Across from the pool is the weather-proof aluminum covered patio area, perfect for those summertime get togethers! The nicely landscaped backyard showcases a large grassy lawn and includes 12 different fruit trees such as grapefruit, persimum, avocado, plum and peach. This home offers plenty of parking with large front driveway and RV/Boat parking on the side of the house. Other features include Solar panels (Already paid off by seller!), newer AC condenser, a large storage/tool shed and security cameras throughout property. Some great outdoor activities nearby include the Hidden Valley Nature Center and Santa Ana River Trail. Also, only minutes from the city of Norco horseback riding trails & Hidden Valley Golf Course. This home is a MUST SEE and will not disappoint!

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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
 

$778,500$951,500$865,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$3,004
Property Tax -$869
Property Insurance -$96
Property Management Fees -$172
CASH FLOW
-$1,231

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.

$865,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.6%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$234,975

INVESTMENT

$234,975

Down Payment
$216,250
Rehab Estimate
$5,750
Closing Costs
$12,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $216,250
Loan Amount $648,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$94

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,885

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,910
$2,910
RENT COMPS ANALYSIS
  • 11275 Swenson Street Riverside, CA 2
    • 5 beds 3 baths ∙ 2,856 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,856 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.02
    •  
  • 11233 Cadbury Drive Riverside, CA 1
    • 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1989
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.01
    •  
PROPERTY LISTING DETAILS
Alexander Piana
Century 21 Award
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21143123
Last Updated: 07/11/2021
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