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9133 Limecrest Drive Riverside, CA 92508

4 Beds 3 Baths 1,840 sqft Built 1988

$577,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $313.59
  • 8 Days on Market
  • MLS # : IV21030982
  • Updated Date : 02/14/2021 at 18:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,840 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

This home is located in the highly desirable community of Orangecrest. Featuring 4 bedrooms, 2.5 baths & almost 1900 sq.ft. of living area. Grand entry into the living room with vaulted ceilings & abundant natural light. Wood burning fireplace with marble stone & a formal dinning room. Tile entrance & throughout. Custom windows coverings including plantation shutters. The kitchen is ideal for entertaining with a breakfast nook. The kitchen opens to the adjacent family room while also offering immediate access to the rear yard. There is a downstairs laundry & powder room. The master suite is expansive with two closets including a spacious walk-in closet. Enjoy the views from your very own private walk out balcony. The master bath has a stand alone soaking tub, separate shower, vanity & dual sinks. Large secondary bedrooms & a hallway bath. The private rear yard has a concrete patio with an Alumawood solid patio cover. The upstairs balcony & downstairs patio have electric Sun shades. Plenty of storage with the newer outdoor shed. Lower utilities with the new HVAC system, heater & water heater. Two car attached garage with a private workshop fully enclosed. Lovely landscaping with mature Palm trees & hardscape. R.V access. Low taxes & No HOA fees.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Frank Augustus Miller Middle School Middle Regular 1,023 40 8
Martin Luther King High School High Regular 3,324 124 9
Frank Augustus Miller Middle School Middle Unknown NA

Frank Augustus Miller Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 40
8
GreatSchools Rating

Martin Luther King High School

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

Frank Augustus Miller Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$519,300$634,700$577,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$2,004
Property Tax -$549
Property Insurance -$72
Property Management Fees -$132
CASH FLOW
-$526

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.

$577,000

PROJECTED PRICE

$2,230

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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,655

INVESTMENT

$158,655

Down Payment
$144,250
Rehab Estimate
$5,750
Closing Costs
$8,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,250
Loan Amount $432,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,355

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,2503$2,2954$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 9133 Limecrest Drive Riverside, CA 1
    • 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,840 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.21
    •  
  • 19356 Lambeth Court Riverside, CA 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1988
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.33
    •  
  • 19989 Caraway Lane Riverside, CA 3
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1992
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.28
    •  
  • 19975 Promenade Circle Riverside, CA 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, CA 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
Sharene Greer
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21030982
Last Updated: 02/14/2021
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