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3740 Camino Sobre Riverside, CA 92503

3 Beds 3 Baths 1,300 sqft Built 1995

$380,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $292.31
  • 6 Days on Market
  • MLS # : IG20228125
  • Updated Date : 10/29/2020 at 14:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full , 1 half
Listing Agent

Performance Group

Listing Agent's Description

Updated Townhome/Condo located in the prestigious Four Seasons Villas on the border of Riverside and Corona. Upon entering you are immediately greeted by an open living space with vaulted ceilings and plenty of natural lighting. . Upstairs you'll find two modest-sized bedrooms and two full bathrooms as well as a loft that was converted into a 3rd bedroom. The master bedroom suite has its own large bathroom along with an oversized walk-in closet. This Freshly Painted home has been recently upgraded with new Flooring, Quartz Countertops, Subway tiled Backsplash, Sinks, Faucets, Carpet Light fixtures, Baseboards, throughout as well as a newer HVAC system and much more. Entertaining is made easy with the spacious low maintenance backyard. The backyard backs up to a mature greenbelt with gorgeous views. The well-maintained community offers many amenities such as 2 swimming pools, 2 spas as well as great walking areas throughout the neighborhood. Located near the 91 and 15 freeway and multiple shopping centers. This home is great for a first-time home buyer or a commuter who is looking for a low maintenance home close to freeways

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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: Home Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k484k

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

Neighborhood: Home Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112155

* 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
Lake Hills Elementary School Primary Regular 832 32 9
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown 1,353 53 NA

Lake Hills Elementary School

  • Education Level: Primary
  • # of students: 832
  • # of teachers: 32
9
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

Hillcrest High School

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

$342,000$418,000$380,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,402
Property Tax -$444
Property Insurance -$59
HOA -$229
Property Management Fees -$112
CASH FLOW
-$355

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.

$380,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$1,9503$2,0004$2,1005$2,400
$2,400
RENT COMPS ANALYSIS
  • 3740 Camino Sobre Riverside, CA 1
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.45
    •  
  • 2370 Fan Palm Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.39
    •  
  • 12980 Winter Sun Way Riverside, CA 3
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1988
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.42
    •  
  • 2386 Weatherwood Road Corona, CA 4
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.50
    •  
  • 3500 Autumn Walk Drive Riverside, CA 5
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1987
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.48
    •  
PROPERTY LISTING DETAILS
Acoslin Mendoza
Performance Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20228125
Last Updated: 10/29/2020
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