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8790 Sandhill Drive Riverside, CA 92508

4 Beds 2 Baths 1,525 sqft Built 1989

$515,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $337.70
  • 5 Days on Market
  • MLS # : PW20229047
  • Updated Date : 10/30/2020 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,525 sqft
  • Baths : 2 full
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

Excellent opportunity to own a single story gem in the heart of Riverside. This property is located in close proximity to shopping centers and frwy access. The home features 4 bedrooms and 2 bathrooms and comes with a pool to entertain in the hot summer months. Fire pit outside and fireplace inside helps to ensure added warmth and comfort. Enjoy a picnic or take a stroll at Thundersky Park located across the street.

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
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,900
Property Tax -$491
Property Insurance -$64
Property Management Fees -$118
CASH FLOW
-$573

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.

$515,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.39%

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-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2503$2,3004$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 8790 Sandhill Drive Riverside, CA 1
    • 4 beds 2 baths ∙ 1,525 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,525 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.31
    •  
  • 19356 Lambeth Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1988
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.33
    •  
  • 19107 Shady Circle Riverside, CA 3
    • 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1990
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.34
    •  
  • 19975 Promenade Circle Riverside, CA 4
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
  • 20898 Millbrook Street Riverside, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Scott Lee
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20229047
Last Updated: 10/30/2020
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