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20765 Golden Rain Road Riverside, CA 92508

4 Beds 3 Baths 2,050 sqft Built 1997

$509,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $248.73
  • 9 Days on Market
  • MLS # : OC20247630
  • Updated Date : 12/04/2020 at 08:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,050 sqft
  • Baths : 3 full
Listing Agent

Douglas Elliman Of California

Listing Agent's Description

Enjoy the breathtaking hill top views from this sprawling approx. 2,000 square foot, 4 bedroom, 3 bathroom Riverside residence, in one of the most sought after communities - Orangecrest. The front entrance invites you to an open entryway with recessed lighting and a tile walk way laid throughout the residence. The grand living area sits off the main walkway, adjacent to the family living space, and eat in kitchen. The family room is outfitted with a cozy gas-powered fireplace, coupled with a beautifully accented wall, perfectly designed for entertaining. The kitchen offers a gargantuan amount of counter space, including a prep island that opens up to the family living and dining areas, for a seamless uninterrupted gathering. The expansive master bedroom contains a spacious layout, allowing for multiple choices of furniture sizes and layouts. The master bath features a separate shower and bath tub combination, walk in closet and dual sink master vanity. The secondary bedrooms are spacious, offering an abundance of room and comfort, along with an additional full hall bath. The backyard is designed with family and friendly gatherings in mind, including a full slab concrete layout, partial covering, and beautiful views to take in during sunrises and evening sunsets. The three car garage completes the finishing touches on the residence, and the community is complimented with nearby parks,, schools, shopping, and freeway access. Welcome to Golden Rain.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Orangecrest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k610k

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

Neighborhood: Orangecrest

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
Rivera Elementary School Primary Regular 755 28 8
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Rivera Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 28
8
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
 

$458,910$560,890$509,900

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 -$1,881
Property Tax -$486
Property Insurance -$77
Property Management Fees -$153
CASH FLOW
$2

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.

$509,900

PROJECTED PRICE

$2,600

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,874

INVESTMENT

$140,874

Down Payment
$127,475
Rehab Estimate
$5,750
Closing Costs
$7,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,881

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,475
Loan Amount $382,425
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$41,051

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
  • $1.27

    LIST RENT PER SQFT
  • $2,583

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6003$2,6004$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 20765 Golden Rain Road Riverside, CA 4
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.27
    •  
  • 8939 Digger Pine Drive Riverside, CA 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.27
    •  
  • 20826 Stony Brook Circle Riverside, CA 2
    • 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
    • $1.16
    •  
  • 20539 Nathan Drive Riverside, CA 3
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1991
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.32
    •  
  • 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 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.29
    •  
PROPERTY LISTING DETAILS
Alex Parker
Douglas Elliman Of California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20247630
Last Updated: 12/04/2020
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