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8594 De Loss Drive Riverside, CA 92508

4 Beds 2 Baths 1,911 sqft Built 1999

$524,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $274.67
  • 7 Days on Market
  • MLS # : IV20235904
  • Updated Date : 11/12/2020 at 09:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,911 sqft
  • Baths : 2 full
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

Gorgeous rare single story pool home in the heart of Orangecrest! This home features a spacious and open floorplan with plenty of room to entertain. Tons of upgrades including gorgeous new wood-look porcelain tile throughout, fresh paint, redone pebbletec in pool and spa, all new pool equipment, new A/C, alumawood patio cover with fan and lighting. Master bedroom features walk in closet and large bathroom with separate shower and tub. The backyard is low maintenance and complete with pool/spa, firepit, patio cover, and plenty of room on both side of the home for storage. Indoor laundry and 2 car garage with plenty of extra room for workbench or storage. Low tax and no HOA!

SEE MORE

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

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
Rivera Elementary School Primary Regular 755 28 8
Earhart Middle School Middle Regular 959 37 8
Martin Luther King High School High Regular 3,324 124 9

Rivera Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 28
8
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
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,937
Property Tax -$501
Property Insurance -$73
Property Management Fees -$132
CASH FLOW
-$404

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.

$524,900

PROJECTED PRICE

$2,240

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,422

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,3003$2,4004$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 8594 De Loss Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.17
    •  
  • 20898 Millbrook Street Riverside, CA 2
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1999
    property image
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 20811 Stony Brook Circle Riverside, CA 3
    • 5 beds 4 baths ∙ 2,038 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,038 Sqft ∙ Built 1998
    property image
    LEASED 05/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
  • 8939 Digger Pine Drive Riverside, CA 4
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.27
    •  
  • 20539 Nathan Drive Riverside, CA 5
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1991
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.32
    •  
PROPERTY LISTING DETAILS
Jason Sparks
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20235904
Last Updated: 11/12/2020
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