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1035 Bainbridge Circle Corona, CA 92882

4 Beds 3 Baths 2,048 sqft Built 1999

$645,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $314.94
  • 2 Days on Market
  • MLS # : SW21044853
  • Updated Date : 03/06/2021 at 14:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,048 sqft
  • Baths : 2 full , 1 half
Listing Agent

Equity California Real Estate

Listing Agent's Description

Come see this gorgeous home in the Mountain Gate Neighborhood below the beautiful mountain in the prestigious area of South Corona. This home boasts 4 bedrooms and 3 full bathrooms. The primary suite features new carpet and an upgraded bath. 2-car plus tandem garage has extra storage for all your toys and storage needs. An upgraded central HVAC system features carbon micro scrubbers (ideal for those with allergies and asthma) and TESLA solar panels. Schools are nearby as is retail shopping and is close to popular Skyline Hiking Trail and Walking Trails. Home features striking mountain and city light views. Home It won't last so make this your new home!

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: South Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k712k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: South Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822894

* 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
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Santiago High School High Regular 3,692 129 8
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 46
6
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 3,692
  • # of teachers: 129
8
GreatSchools Rating

Citrus Hills Intermediate School

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

$580,500$709,500$645,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,240
Property Tax -$762
Property Insurance -$77
HOA -$43
Property Management Fees -$159
CASH FLOW
-$581

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.

$645,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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

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$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,698

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6753$2,7004$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1035 Bainbridge Circle Corona, CA 3
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.32
    •  
  • 1027 Miraflores Drive Corona, CA 1
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 1999
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.29
    •  
  • 3116 Windhaven Way Corona, CA 2
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 2000
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.31
    •  
  • 772 Donatello Drive Corona, CA 4
    • 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 1998
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.30
    •  
  • 3136 Mountain Pass Drive Corona, CA 5
    • 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2000
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.37
    •  
PROPERTY LISTING DETAILS
Laytricia Towery
Equity California Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21044853
Last Updated: 03/06/2021
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