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11108 Pinecone Street Corona, CA 92883

3 Beds 3 Baths 2,280 sqft Built 2004

$549,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $240.79
  • 8 Days on Market
  • MLS # : OC21141650
  • Updated Date : 07/06/2021 at 05:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome home to the beautiful and friendly community of Sycamore Creek. This spacious and inviting home is situated on a peaceful street at the end of a cul-de-sac with spectacular mountainous views. This 3 bedroom, 2.5 bathroom home with a two-car attached garage offers 2,280 square feet of living space. As you enter the home, you are welcomed by your formal living room and dining room with exceptionally maintained neutral tile flooring, recessed lighting, and dual pane windows. The kitchen and family room offer tons of natural light and an open layout with access to the covered patio and backyard perfect for entertaining. The kitchen features beautiful wood cabinetry, white tile countertops and a kitchen island with breakfast bar seating. Upstairs, you will find the master bedroom and en-suite master bathroom, two additional bedrooms, a full-sized hallway bathroom, and a nice size laundry room. Additionally, there is an oversized loft with two custom built-in office desks ideal for working from home or doing homework. The master bedroom has a generous amount of space with a walk-in closet and the en-suite bathroom features dual sinks, a sunken bathtub, and a separate walk-in shower. Enjoy the private backyard with a large, covered patio, built-in fire pit, and low maintenance synthetic grass. Optimally located near the 15 freeway, excellent schools, shopping, restaurants, and parks. HOA includes 3 swimming pools, splash pad, clubhouse, BBQ areas, fitness center, walking trails, playground, sports park, and the renowned 29-acre Deleo Park with tennis, basketball, dog park, skate park, and playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sycamore Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k671k

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

Neighborhood: Sycamore Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822805

* 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
Centennial High School High Regular 3,306 119 8
Centennial High School High Unknown NA

Centennial High School

  • Education Level: High
  • # of students: 3,306
  • # of teachers: 119
8
GreatSchools Rating

Centennial High School

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

$494,100$603,900$549,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,907
Property Tax -$537
Property Insurance -$82
HOA -$70
Property Management Fees -$152
CASH FLOW
-$178

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.

$549,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.7%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$19,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,474

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5703$2,700
$2,700
RENT COMPS ANALYSIS
  • 11108 Pinecone Street Corona, CA 2
    • 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.13
    •  
  • 11161 Pinecone Street Corona, CA 1
    • 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.09
    •  
  • 24679 Acadia Drive Corona, CA 3
    • 4 beds 2 baths ∙ 2,500 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,500 Sqft ∙ Built 2018
    property image
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.08
    •  
PROPERTY LISTING DETAILS
Shaun Radcliffe
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21141650
Last Updated: 07/06/2021
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