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1173 Lyndhurst Drive Riverside, CA 92507

3 Beds 3 Baths 2,144 sqft Built 1963

INVESTimate

$650,000

List Price

$2,330

$2,097 - $2,563

Rent Est.

$700,505  ( +7.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $303.17
  • 6 Days on Market
  • MLS # : IV20171712
  • Updated Date : 08/25/2020 at 13:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,144 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coastline Properties

Listing Agent's Description

**Rare Find*** Beautiful POOL home in excellent condition in a very good part of Riverside. The Tri-level three bedroom three bath home is spacious very cozy and has been completely remodeled features, wood floors, new carpet, new customized kitchen, new paint, new fixtures. The backyard has a Very large swimming pool with Jacuzzi completely private on all sides from neighbors with large RV parking. Mature fruit trees all over the property. This home has been very well-maintained PRIDE OF OWNERSHIP!! Must see!!

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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: Canyon Crest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k598k

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

Neighborhood: Canyon Crest

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
Emerson Elementary School Primary Regular 798 32 4
Emerson Elementary School Middle Regular 798 32 4
John W. North High School High Regular 2,281 95 4

Emerson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

Emerson Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 32
4
GreatSchools Rating

John W. North High School

  • Education Level: High
  • # of students: 2,281
  • # of teachers: 95
4
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,398
Property Tax -$624
Property Insurance -$79
Property Management Fees -$137
CASH FLOW
-$909

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.

$650,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.77%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,610

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3303$2,4504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1173 Lyndhurst Drive Riverside, 2
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1963 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.09
    •  
  • 4645 Holyoke Place Riverside, 1
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1955
    LEASED 07/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.20
    •  
  • 1350 Le Conte Drive Riverside, 3
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1979
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.28
    •  
  • 960 Country Club Drive Riverside, 4
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 1967
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
  • 5110 Pearblossom Drive Riverside, 5
    • 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1970
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
PROPERTY LISTING DETAILS
Yvonne Hinnaoui
Coastline Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20171712
Last Updated: 08/25/2020
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