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8918 Kentville Street Riverside, CA 92508

4 Beds 3 Baths 2,131 sqft Built 1989

$505,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
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

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
Benjamin Franklin Elementary School Primary Regular 838 33 8
Benjamin Franklin Elementary School Middle Regular 838 33 8
Martin Luther King High School High Regular 3,324 124 9

Benjamin Franklin Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 33
8
GreatSchools Rating

Benjamin Franklin Elementary School

  • Education Level: Middle
  • # of students: 838
  • # of teachers: 33
8
GreatSchools Rating

Martin Luther King High School

  • Education Level: High
  • # of students: 3,324
  • # of teachers: 124
9
GreatSchools Rating
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

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

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$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

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
$2,150
1$2,1502$2,3103$2,4504$2,5005$2,575
$2,575
RENT COMPS ANALYSIS
  • 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
Karla Valdez
Keller Williams Riverside Cent
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20239144
Last Updated: 11/13/2020
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