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8817 Digger Pine Drive Riverside, CA 92508

3 Beds 2 Baths 1,931 sqft Built 1989

INVESTimate

$519,900

List Price

$2,170

$1,953 - $2,387

Rent Est.

$551,926  ( +6.16%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $269.24
  • 4 Days on Market
  • MLS # : IV20172817
  • Updated Date : 08/23/2020 at 12:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,931 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

ORANGECREST- DIGGER PINE PARK SQUARE- Immaculate and highly upgraded, this idyllic single level residence comes with picturesque views across the expansive park to the San Gorgonio and San Jacinto Mountains including Tahquitz Peak. Formal living and dining room off the open foyer with vaulted ceilings and massive palladium window and skylight flooding the interior with natural light. Completely remodeled kitchen with custom cabinetry, granite counter-tops, all built-in appliances including oven, microwave, gas range, dishwasher and wine chiller; Spacious family room with fireplace; Secluded master suite at the rear of the house with remodeled bath featuring tumbled stone tub and shower, double solid surface vanity and view out onto the private backyard. Loads of custom details including wood trim at windows and doors, high-profile baseboards, crown moulding, upgraded tile wood-laminate and carpet flooring; Beautiful backyard with pergola style patio, fountain established landscaping and no neighbor to the rear of the property. Truly turn-key and sure to please the fortunate new owners!

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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

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
 

$467,910$571,890$519,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,918
Property Tax -$496
Property Insurance -$74
Property Management Fees -$128
CASH FLOW
-$446

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.

$519,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,332

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,2003$2,2254$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 8817 Digger Pine Drive Riverside, 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.12
    •  
  • 19954 Promenade Circle Riverside, 2
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1990
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
  • 8577 Rosemary Drive Riverside, 3
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1994
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $1.13
    •  
  • 19975 Promenade Circle Riverside, 4
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
  • 8939 Digger Pine Drive Riverside, 5
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1989
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.27
    •  
PROPERTY LISTING DETAILS
Brad Alewine
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20172817
Last Updated: 08/23/2020
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