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11310 Mathilda Lane Riverside, CA 92508

4 Beds 3 Baths 1,728 sqft Built 1994

$525,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $303.82
  • 7 Days on Market
  • MLS # : IV20263272
  • Updated Date : 01/01/2021 at 08:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,728 sqft
  • Baths : 2 full , 1 half
Listing Agent

3d Realty

Listing Agent's Description

Beautiful pool home in the California Stonegate gated community featuring 4 bedrooms and 2.5 baths in a highly desired area of Riverside situated on a small cul de sac. The end of the cul de sac has an entrance to the grass picnic/park area. The spacious kitchen opens to the living room with a fireplace for those cold nights. The refrigerator and kitchen island is even included. The primary bedroom features a recently updated bathroom en suite with a spacious tiled and marble shower and large walk in closet. Ceiling fans in every bedroom. The tinted windows and tinted screens were also recently installed. The stamped concrete is a nice touch around the sparkling newer pebble tec pool and spa that can be remotely managed by cell phone, so you can turn the jacuzzi on and have it ready when you get home. The large alumawood patio cover and gas fire pit is just another bonus when entertaining. There is a gated area with a small area of grass on the side of the home that's perfect for a dog run. The home is centrally located near stores, restaurants, gym, community tennis courts and park.

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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: Mission Grove

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k603k

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

Neighborhood: Mission Grove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Kennedy Elementary School Primary Regular 1,090 40 7
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Kennedy Elementary School

  • Education Level: Primary
  • # of students: 1,090
  • # of teachers: 40
7
GreatSchools Rating

Earhart Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 37
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,937
Property Tax -$528
Property Insurance -$69
HOA -$108
Property Management Fees -$129
CASH FLOW
-$581

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.

$525,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$5.0k$0.0$5.0k$10k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,173

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1903$2,2004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 11310 Mathilda Lane Riverside, CA 2
    • 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.27
    •  
  • 5300 Melbourne Place Riverside, CA 1
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1998
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 19156 Vintage Woods Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1993
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.20
    •  
  • 7641 Botany Bay Road Riverside, CA 4
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 1997
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.30
    •  
  • 19281 Foxtail Lane Riverside, CA 5
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 1995
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
PROPERTY LISTING DETAILS
Jennifer Walker
3d Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20263272
Last Updated: 01/01/2021
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