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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $289.50
- 8 Days on Market
- MLS # : IV20260610
- Updated Date : 12/21/2020 at 16:20
CONSTRUCTION
- Beds : 4
- Floor Size : 2,038 sqft
- Baths : 2 full , 1 half
Listing Agent
Better Homes And Gardens Real Estate Champions
Listing Agent's Description
Highly Upgraded four bedroom home with an entertainers backyard featuring a pebble tech pool and spa, tropical landscaping. This home shows true pride of ownership, shows like a model and has great curb appeal. Enter into the living room with vaulted ceilings, plantation shutters and lots of windows for bright and open feel. As you enter the kitchen you notice the upgraded cabinets with granite counters, prep island and custom lightening. The kitchen opens to the family room with custom built-in cabinets, cozy fireplace and plantation shutters. Upstairs has four bedrooms, the master bedroom suite has plantation shutters, two walk in closets, dual vanity with granite counters, upgraded bronze faucets, and roman tub. Upstairs laundry room with cabinets. The bedrooms have ceiling fans and walk in closets and share the hall bathroom with upgraded vanity with granite counters and dual sinks. Entertain your friends and family in this tropical backyard! Featuring a built in BBQ, covered patio, ledger stone seating areas, and outdoor fireplace! This will go fast and you don't want to miss it!
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,480 |
| EXPENSES | Loan Payment | -$2,177 |
| Property Tax | -$563 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$482
|
||
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.
$590,000
PROJECTED PRICE
$2,480
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$162,100
LOAN DETAILS
$2,177
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $147,500 |
| Loan Amount | $442,500 |
1.83
YEARS SAVED
$8,466
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,480
LIST RENT -
$1.22
LIST RENT PER SQFT
-
$2,502
COMP ESTIMATED VALUE -
$1.23
COMP AVG. RENT PER SQFT
Comps Range
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- $2,300
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LEASED 08/17/20- Rent
- Rent Per SQFT
- $2,450
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-
20826 Stony Brook Circle Riverside, CA 4
- 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 1998
LEASED 08/01/19- Rent
- Rent Per SQFT
- $2,600
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-
20652 Golden Rain Road Riverside, CA 5
- 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1996
LEASED 12/15/20- Rent
- Rent Per SQFT
- $2,600
- $1.24
PROPERTY LISTING DETAILS
Better Homes And Gardens Real Estate Champions
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20260610
Last Updated: 12/21/2020
