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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $213.89
- 4 Days on Market
- MLS # : IV20259250
- Updated Date : 12/18/2020 at 19:51
CONSTRUCTION
- Beds : 4
- Floor Size : 2,922 sqft
- Baths : 3 full
Listing Agent
Realty Masters & Associates
Listing Agent's Description
11424 Kingbird Dr, Corona, CA 92883 IS NOW FOR SALE! $625,000: Turn-key home in the desirable Sycamore Creek community features great curb appeal with beautiful landscaping and relaxing foothill & mountain views. This home has an open and spacious floor plan. Beautiful vinyl plank flooring, recessed lighting, a custom paint scheme, and updates throughout! The kitchen features stunning wood cabinetry, granite countertops, a huge center island with bar seating, on-trend pendant lighting, and opens to the family room with fireplace and full wall sliding glass doors that open to the California room. One bedroom and full bathroom on the main floor and three bedrooms on the 2nd floor along with a large loft area. The primary suite offers a large ensuite with dual vanities, a soaking tub, a separate shower, and a walk-in closet. Enjoy the private backyard a built in bbq and for ever views. No rear neighbors - the perfect space for entertaining! The front area has an inviting and relaxing court yard. Home is conveniently located near schools, parks, shopping, dining, and more. This one will not last.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Sycamore Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sycamore Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,580 |
| EXPENSES | Loan Payment | -$2,306 |
| Property Tax | -$612 | |
| Property Insurance | -$98 | |
| HOA | -$70 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$658
|
||
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.
$625,000
PROJECTED PRICE
$2,580
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$171,375
LOAN DETAILS
$2,306
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $156,250 |
| Loan Amount | $468,750 |
0.92
YEARS SAVED
$2,887
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,580
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$2,571
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
11424 Kingbird Drive Corona, CA 5
- 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,922 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $2,580
- $0.88
-
25142 Pacific Crest Street Corona, CA 1
- 4 beds 4 baths ∙ 3,087 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,087 Sqft ∙ Built 2005
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,395
- $0.78
-
11768 Bunting Circle Corona, CA 2
- 4 beds 4 baths ∙ 2,860 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,860 Sqft ∙ Built 2016
LEASED 09/27/19- Rent
- Rent Per SQFT
- $2,500
- $0.87
-
25794 Dove Street Corona, CA 3
- 4 beds 2 baths ∙ 2,627 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,627 Sqft ∙ Built 2015
LEASED 03/11/20- Rent
- Rent Per SQFT
- $2,500
- $0.95
-
11166 Tesota Loop Street Corona, CA 4
- 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2005
LEASED 04/30/20- Rent
- Rent Per SQFT
- $2,550
- $0.92
PROPERTY LISTING DETAILS
Realty Masters & Associates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20259250
Last Updated: 12/18/2020
