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8931 Bayshore Lane Riverside, CA 92508

5 Beds 2 Baths 2,405 sqft Built 1998

$599,900

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $249.44
  • 3 Days on Market
  • MLS # : OC20248439
  • Updated Date : 12/11/2020 at 16:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,405 sqft
  • Baths : 2 full
Listing Agent

Baybrook Realty

Listing Agent's Description

Your beautiful Orangecrest pool home awaits. This home has was just completely renovated and updated, so all you have to do is bring in your furniture and smiles. This highly updated five-bed, three-bathroom home features a brand new kitchen, stainless steel appliances, recessed lights, all-new luxury vinyl planking throughout, new bathrooms and vanities, fresh paint, a whole house fan, and paid for solar with 32 panels. The main-floor bedroom and bathroom are always a feature that buyers love. Enjoy your fully fenced pool and spa next to a nice grassy lawn as you bring your entertaining skills to the next level. This wonderful home is situated within a quiet east side location with no HOA fees, top-rated schools, close proximity to the 60 and 91 freeways, and minutes from Riverside municipal airport. This home is undoubtedly a must-see for your clients.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,213
Property Tax -$572
Property Insurance -$85
Property Management Fees -$150
CASH FLOW
-$471

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.

$599,900

PROJECTED PRICE

$2,550

PROJECTED RENT

0.43%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,646

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5503$2,6004$2,6505$2,695
$2,695
RENT COMPS ANALYSIS
  • 8931 Bayshore Lane Riverside, CA 2
    • 5 beds 2 baths ∙ 2,405 Sqft ∙ Built 1998 5 beds 2 baths ∙ 2,405 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
  • 8916 Mesa Oak Drive Riverside, CA 1
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1991
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 20826 Stony Brook Circle Riverside, CA 3
    • 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 1998
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.16
    •  
  • 20865 Oakdale Lane Riverside, CA 4
    • 5 beds 3 baths ∙ 2,401 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,401 Sqft ∙ Built 1998
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
  • 8919 Massena Street Riverside, CA 5
    • 5 beds 3 baths ∙ 2,405 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,405 Sqft ∙ Built 1999
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.12
    •  
PROPERTY LISTING DETAILS
Brandon Brown
Baybrook Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20248439
Last Updated: 12/11/2020
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