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4417 Lakeview Court Riverside, CA 92505

3 Beds 3 Baths 1,927 sqft Built 2003

$445,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $230.93
  • 96 Days on Market
  • MLS # : IV20224677
  • Updated Date : 01/25/2021 at 17:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,927 sqft
  • Baths : 2 full , 1 half
Listing Agent

Eagle Real Estate And Property Management Inc.

Listing Agent's Description

3 Bedroom, 3 Bath Condo in Desirable Coronado Village Riverwalk Community, No Common Walls, Central Heat and Air, Painted and New Carpet 2 Years Ago, Ceiling Fans, Custom Window Coverings, Living Room, Family Room, Dining Room, Kitchen with Ceramic Tile Counters, Island, Dishwasher, Stove, Built-in Microwave and Lots of Cabinets, Large Master Bedroom, Large Walk-in Closet, Master Bath has Roman Tub, Separate Shower and Two Sinks, Jack and Jill Upstairs Bath Room, Inside Laundry Room, Hugh Loft, 2 Car Garage with Auto Opener, Auto Sprinklers front and Back, The Community Features a Community Pool, Playgrounds and Picnic Areas, Walking Distance to La Sierra University, Close to 91 Freeway and Metro Link.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $142k484k

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

Neighborhood: La Sierra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9672141

* 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
Mcauliffe Elementary School Primary Regular 753 28 4
Villegas Middle School Middle Regular 1,356 53 5
La Sierra High School High Regular 2,137 91 4

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 28
4
GreatSchools Rating

Villegas Middle School

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

La Sierra High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 91
4
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,546
Property Tax -$452
Property Insurance -$74
HOA -$97
Property Management Fees -$143
CASH FLOW
$118

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.

$445,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$38,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,433

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,4304$2,5505$2,550
$2,550
RENT COMPS ANALYSIS
  • 4417 Lakeview Court Riverside, CA 3
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.26
    •  
  • 4402 Water Lane Riverside, CA 1
    • 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
    •  
  • 4470 Guy Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.22
    •  
  • 4422 Pondmoor Drive Riverside, CA 4
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.32
    •  
  • 4421 Pondmoor Drive Riverside, CA 5
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.32
    •  
PROPERTY LISTING DETAILS
Lavern Slusher
Eagle Real Estate And Property Management Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20224677
Last Updated: 01/25/2021
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