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1073 Bluecrest Street Corona, CA 92882

4 Beds 2 Baths 1,278 sqft Built 1958

INVESTimate

$465,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$499,875  ( +7.50%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1958
  • Price/Sqft : $363.85
  • 24 Days on Market
  • MLS # : PW20155481
  • Updated Date : 08/20/2020 at 14:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Justina Rubio, Broker

Listing Agent's Description

Great starter / investment opportunity. This is a corner lot home that features 4 bedrooms, 2 bathrooms, 2 car garage, plenty kitchen cabinets, crown molding, and stainless steal stove. Close distance to Corona High School.

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: Central Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Central Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822579

* 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
Jefferson Elementary School Primary Regular 839 30 5
Corona Fundamental Intermediate School Middle Regular 1,138 38 6
Corona High School High Regular 2,933 110 5

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 30
5
GreatSchools Rating

Corona Fundamental Intermediate School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 38
6
GreatSchools Rating

Corona High School

  • Education Level: High
  • # of students: 2,933
  • # of teachers: 110
5
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,716
Property Tax -$440
Property Insurance -$58
Property Management Fees -$118
CASH FLOW
-$332

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.

$465,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.50%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9503$2,0004$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1073 Bluecrest Street Corona, 4
    • 4 beds 2 baths ∙ 1,278 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,278 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.56
    •  
  • 1418 Chalgrove Drive Corona, 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1972
    property image
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.48
    •  
  • 1052 W 10th Street Corona, 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1956
    property image
    LEASED 04/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.56
    •  
  • 1459 Camelot Drive Corona, 3
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1972
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.46
    •  
  • 1324 Camelot Drive Corona, 5
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.58
    •  
PROPERTY LISTING DETAILS
Justina Rubio
Justina Rubio, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20155481
Last Updated: 08/20/2020
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