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6925 Dorinda Drive Riverside, CA 92503

3 Beds 2 Baths 1,218 sqft Built 1972

$390,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $320.20
  • 5 Days on Market
  • MLS # : IV20246595
  • Updated Date : 11/28/2020 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,218 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great Riverside location! This 3 bedroom home features an over-sized concrete driveway with gated access to rear yard. Front yard is fenced with block and wrought iron. Two car attached garage offers direct access to interior. Tiled entry opens to the living room and dining area plus den. Bright and sunny kitchen has eat-in space, ceiling fan and lots of cabinet space, gas range-oven, built in microwave and dishwasher. Step down area used as family room; bricked area plumbed for gas burning, free standing fireplace Full hall bathroom has a combination shower in tub. The primary bedroom has double mirrored wardrobes and a ceiling fan plus an en-suite bath with shower. Secondary bedrooms are good sized. New vinyl windows throughout. Central heat and air conditioning. Covered patio. Landscaped yards with sprinklers and block wall fencing in rear yard. Storage shed in side yard. The den was originally the 4th bedroom and it would be an easy conversion back to a bedroom, if needed

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: Arlanza

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $114k484k

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

Neighborhood: Arlanza

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8762101

* 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
Terrace Elementary School Primary Regular 663 25 3
Loma Vista Middle School Middle Regular 1,070 43 4
Norte Vista High School High Regular 2,189 86 3

Terrace Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 25
3
GreatSchools Rating

Loma Vista Middle School

  • Education Level: Middle
  • # of students: 1,070
  • # of teachers: 43
4
GreatSchools Rating

Norte Vista High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 86
3
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,439
Property Tax -$396
Property Insurance -$57
Property Management Fees -$107
CASH FLOW
-$179

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.

$390,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 13.9%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8203$1,9954$2,0005$2,300
$2,300
RENT COMPS ANALYSIS
  • 6925 Dorinda Drive Riverside, CA 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.49
    •  
  • 10035 Hillsborough Lane Riverside, CA 1
    • 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,128 Sqft ∙ Built 1971
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.55
    •  
  • 6835 Farrier Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,315 Sqft ∙ Built 1976
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.52
    •  
  • 7182 Bradford Street Riverside, CA 4
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1988
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.47
    •  
  • 11030 Country Bluffs Road Riverside, CA 5
    • 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,555 Sqft ∙ Built 1988
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
PROPERTY LISTING DETAILS
Karen Turner
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20246595
Last Updated: 11/28/2020
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