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8569 Hayloft Place Riverside, CA 92508

4 Beds 2 Baths 2,449 sqft Built 2003

$549,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $224.54
  • 3 Days on Market
  • MLS # : IV20242737
  • Updated Date : 11/20/2020 at 14:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,449 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This stunning Orangecrest home is filled with warmth and light. Upon entry you will be greeted by the soaring ceilings, arched entryways and an open floorplan. The large newly remodeled kitchen is at the heart of the home and features upgraded cabinetry with slide-out shelving and soft-close drawers, granite counters, tiled backsplash, a center island and stainless steel appliances. The kitchen opens to the family room where you can converse while making dinner or relax by the fireplace. The Main suite offers views of the outdoors, soffit ceiling, walk-in closet, granite vanity with dual sinks, jetted tub and stand-in shower. Two additional bedrooms with walk-in closets, secondary bath and laundry room with overhead cabinetry complete the first floor. On the second level discover a vast open loft and the generous sized fourth bedroom. A covered wood patio runs along backside of house with outdoor ceiling fan and retractable sun shades. Premium turf, a small putting green and hardscape complete the low maintenance, drought resistant backyard. Additional features include upgraded laminate flooring, newer carpet, interior ceiling fans, newer HVAC system and newer water heater.

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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: Orangecrest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $144k610k

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

Neighborhood: Orangecrest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9672496

* 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
Kennedy Elementary School Primary Regular 1,090 40 7
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Kennedy Elementary School

  • Education Level: Primary
  • # of students: 1,090
  • # of teachers: 40
7
GreatSchools Rating

Earhart Middle School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 37
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,029
Property Tax -$523
Property Insurance -$86
HOA -$65
Property Management Fees -$141
CASH FLOW
-$454

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.

$549,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,602

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4503$2,6004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 8569 Hayloft Place Riverside, CA 1
    • 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.98
    •  
  • 19234 Marmalade Ct Riverside, CA 2
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1989
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
  • 8740 Flatiron Court Riverside, CA 3
    • 5 beds 3 baths ∙ 2,631 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,631 Sqft ∙ Built 2003
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 19429 Rotterdam Street Riverside, CA 4
    • 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,324 Sqft ∙ Built 2001
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
  • 19688 Allenhurst Street Riverside, CA 5
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2001
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.12
    •  
PROPERTY LISTING DETAILS
John Shackelford
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20242737
Last Updated: 11/20/2020
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