Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $236.98
- 3 Days on Market
- MLS # : IV20239144
- Updated Date : 11/13/2020 at 21:50
CONSTRUCTION
- Beds : 4
- Floor Size : 2,131 sqft
- Baths : 3 full
Listing Agent
Keller Williams Riverside Cent
Listing Agent's Description
Welcome home to this beautiful home in Orangecrest, one of Riverside's most highly sought-after neighborhoods. Upon entry, you are immediately captivated by the impressive staircase and by the volume of space in the home highlighted by its soaring ceilings and streams of natural light. This 2,131 sq. ft. 4 bedrooms, 3 bath, 3 car garage home boasts new wood shutters in the dining room and living room, wood laminate flooring throughout, and ceramic tile in the kitchen. The family room has a cozy granite fireplace and there is a bedroom downstairs that can be used as an office or for guests. There is also a full bath and inside laundry downstairs. The updated kitchen features granite countertops and new stainless-steel appliances and a new sliding glass door that leads to a nice yard great for entertaining. Once upstairs enter through the double doors into the generous master suite with a private bath with separate shower and oval soaking tub. Two additional bedrooms, a full bath and linen are perfect for the kids. Walking into the backyard, you will definitely notice the patio cover, lush landscaping with plenty of room to plant a garden, and new wood fencing. No HOA and low taxes. Walking distance to schools, parks, shopping, and restaurants. Conveniently located near the 91 & 215 freeways.
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orangecrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,310 |
| EXPENSES | Loan Payment | -$1,863 |
| Property Tax | -$481 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$250
|
||
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.
$505,000
PROJECTED PRICE
$2,310
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$139,575
LOAN DETAILS
$1,863
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $126,250 |
| Loan Amount | $378,750 |
3.42
YEARS SAVED
$17,007
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,310
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,419
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
8918 Kentville Street Riverside, CA 2
- 4 beds 3 baths ∙ 2,131 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,131 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $2,310
- $1.08
-
9065 Limecrest Drive Riverside, CA 1
- 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 1988
LEASED 08/15/20- Rent
- Rent Per SQFT
- $2,150
- $1.06
-
20423 Sugar Gum Road Riverside, CA 3
- 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1993
LEASED 11/27/19- Rent
- Rent Per SQFT
- $2,450
- $1.11
-
8778 Snowmass Peak Way Riverside, CA 4
- 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003
LEASED 06/03/20- Rent
- Rent Per SQFT
- $2,500
- $1.17
-
19540 Mt Wasatch Drive Riverside, CA 5
- 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 2003
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,575
- $1.20
PROPERTY LISTING DETAILS
Keller Williams Riverside Cent
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20239144
Last Updated: 11/13/2020
