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8459 Queen Anne Lane 
Riverside, CA
92508
4 Beds 3 Baths 2,938 sqft
Built 2001
INVESTimate
$649,000
List Price
$177,735
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PROPERTY INFO
FACTS
- Built In 2001
- Price/Sqft : $220.90
- 2 Days on Market
- MLS # : IG20175050
- Updated Date : 08/25/2020 at 19:47
CONSTRUCTION
- Beds : 4
- Floor Size : 2,938 sqft
- Baths : 3 full
Listing Agent
Colonial Realty Group
Listing Agent's Description
Gorgeous 2 story pool home located in the highly sought after Orange Crest Community. This home features 4 bedrooms and 3 full baths. This home is spacious and includes a downstairs bedroom, a full bath, generous kitchen, plenty of cabinet space, double oven, dishwasher, and a large Island. Upstairs floor has a spacious loft, which can be turned into a 5th bedroom or office, 2 roomy bedrooms, bathroom, and a master bedroom with with walk in closet. The backyard is for an entertainer. It has a Large heated salt water, pebble tech finish swimming pool and spa.
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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: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,680 |
| EXPENSES | Loan Payment | -$2,395 |
| Property Tax | -$615 | |
| Property Insurance | -$98 | |
| HOA | -$65 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$651
|
||
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.
$649,000
PROJECTED PRICE
$2,680
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.16% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$177,735
LOAN DETAILS
$2,395
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $162,250 |
| Loan Amount | $486,750 |
1.17
YEARS SAVED
$4,096
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,680
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$2,703
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
8459 Queen Anne Lane Riverside, 1
- 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $2,680
- $0.91
-
15031 Wood Road Riverside, 2
- 5 beds 3 baths ∙ 2,939 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,939 Sqft ∙ Built 2005
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,700
- $0.92
-
8735 Redcliff Place Riverside, 3
- 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2002
LEASED 10/22/19- Rent
- Rent Per SQFT
- $2,700
- $0.95
-
20054 Dayton Street Riverside, 4
- 4 beds 3 baths ∙ 3,098 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,098 Sqft ∙ Built 2004
LEASED 10/04/19- Rent
- Rent Per SQFT
- $2,745
- $0.89
-
7955 Leway Drive Riverside, 5
- 5 beds 3 baths ∙ 3,130 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,130 Sqft ∙ Built 2001
LEASED 05/12/20- Rent
- Rent Per SQFT
- $2,895
- $0.92
PROPERTY LISTING DETAILS
Colonial Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20175050
Last Updated: 08/25/2020
