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8781 Holly Lane Riverside, CA 92503

4 Beds 2 Baths 1,500 sqft Built 1961

$455,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $303.33
  • 6 Days on Market
  • MLS # : OC20237134
  • Updated Date : 11/10/2020 at 16:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Maltese Real Estate

Listing Agent's Description

This 4 Bedroom 3 Bath house looks and feels like a newly built home! The entire house has been completely renovated and is now ready for a you to enjoy all the upgrades. The kitchen updates include new quartz countertops, tile backsplash and modern white cabinetry. Enjoy cooking in a lovely kitchen with the newly installed stainless steel package and modern design. The freshly updated bathrooms includes beautiful newly tiled shower enclosures, tile floors, vanities and much more. The location is amazing with the benefit of being close to city amenities, schools and freeways. Submit an offer ASAP because with the extensive renovations and location this house will sell fast

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: Brockton Heights North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $115k484k

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

Neighborhood: Brockton Heights North

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8802101

* 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
Jackson Elementary School Primary Regular 847 33 5
Jackson Elementary School Middle Regular 847 33 5
Ramona High School High Magnet 2,160 85 4

Jackson Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 33
5
GreatSchools Rating

Jackson Elementary School

  • Education Level: Middle
  • # of students: 847
  • # of teachers: 33
5
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$409,500$500,500$455,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,679
Property Tax -$440
Property Insurance -$64
Property Management Fees -$139
CASH FLOW
$29

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.

$455,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.6%
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$1.8M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$37,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $2,310

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1503$2,2004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 8781 Holly Lane Riverside, CA 5
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.57
    •  
  • 4344 Monticello Avenue Riverside, CA 1
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1957
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.54
    •  
  • 8633 Ouida Drive Riverside, CA 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1957
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.53
    •  
  • 4331 Monticello Avenue Riverside, CA 3
    • 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.54
    •  
  • 8433 Crystal Avenue Riverside, CA 4
    • 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1963
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.55
    •  
PROPERTY LISTING DETAILS
Tyler Thrush
Maltese Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20237134
Last Updated: 11/10/2020
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