Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3156 Calle La Paz Riverside, CA 92503

4 Beds 3 Baths 2,118 sqft Built 2016

$584,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $276.16
  • 10 Days on Market
  • MLS # : IV20245381
  • Updated Date : 12/05/2020 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,118 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Blackstone Re

Listing Agent's Description

Absolutely stunning model like turnkey 4 bed, 3 full bath with 1 guest bedroom/bath downstairs is perfect for guests. Upgrades galore from the moment you walk in you are captivated by beautiful wood like grey toned tile flooring, white chair railings on 2 toned grey walls, 5" baseboard adorned by tons of dual paned windows, encased plantation wood shutters, and recessed lighting makes space light & bright. Pass through front hallway, closet & custom espresso stairway, and prepare to be fascinated by a great room with breathtaking kitchen complete with crown molding, huge granite island, over 30 espresso cupboards/soft closing drawers & custom glass tile backsplash. GE top end stainless steel appliances with double ovens, dishwasher, 6 burner stove, mic. and large farm sink! Dual sliding glass doors open for indoor/outdoor space to your builders patio with ceiling fans, cedar gazebo(negotiable) fountain, fruit trees and only astro turf grass/dog run makes your outdoor space seem more like a retreat. Upstairs cupboards, then luxurious master bedroom w/en-suite. Classy shower with custom glass tiles, oversize shower head, soaking tub, 2 quartz countertop sinks, toilet room and breathtaking walk in closet w/custom wood shelves/drawers. 2 more spacious bedrooms upstairs, along with laundry room complete with sink vanity and overhead shelving. Upstairs bathroom also dual sinks, quartz counter, tub/shower. 2 car remote garage. Gated community w/resort like pool, parks & dog trails.

SEE MORE

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: Valley View Farms

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $116k883k

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

Neighborhood: Valley View Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9112746

* 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
Orrenmaa Elementary School Primary Regular 596 23 4
Arizona Middle School Middle Regular 1,111 42 4
Hillcrest High School High Unknown 1,353 53 NA

Orrenmaa Elementary School

  • Education Level: Primary
  • # of students: 596
  • # of teachers: 23
4
GreatSchools Rating

Arizona Middle School

  • Education Level: Middle
  • # of students: 1,111
  • # of teachers: 42
4
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$526,410$643,390$584,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,158
Property Tax -$594
Property Insurance -$78
HOA -$210
Property Management Fees -$145
CASH FLOW
-$735

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.

$584,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,749

INVESTMENT

$160,749

Down Payment
$146,225
Rehab Estimate
$5,750
Closing Costs
$8,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,225
Loan Amount $438,675
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,436

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,3003$2,4504$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3156 Calle La Paz Riverside, CA 3
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.16
    •  
  • 11515 Bridgecourt Drive Riverside, CA 1
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2003
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.17
    •  
  • 4402 Water Lane Riverside, CA 2
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.19
    •  
  • 4237 Pondhill Court Riverside, CA 4
    • 5 beds 3 baths ∙ 2,431 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,431 Sqft ∙ Built 2001
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
  • 16223 Blue Haven Court Riverside, CA 5
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2000
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
PROPERTY LISTING DETAILS
Michelle Carnley
Coldwell Banker Blackstone Re
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20245381
Last Updated: 12/05/2020
BESbswy