Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1151 San Marino Court #103 Corona, CA 92881

3 Beds 3 Baths 1,385 sqft Built 1989

$460,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $332.13
  • 4 Days on Market
  • MLS # : TR21037967
  • Updated Date : 02/26/2021 at 08:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax 2000 Realty

Listing Agent's Description

Cozy 3 bedroom townhome in the beautiful Cortina community near the junction of 15/91 FWY. Walking distance to Centennial High School. Stater Bros, El Super, Super WalMart, Sprouts, other shops and restaurants are just 2 minutes away. This lovely townhome has an open floor plan with soaring high ceiling. Living room leads out to a cute backyard with 2 mature fruit trees (sweet and juicy oranges and tangerines). Quartz counter top in kitchen with white cabinets and brand new sink. There is a large half bathroom located downstairs for convenience use . A large closet under the stairway where you can store all your Christmas decors. Upstairs you will find 2 sizable guest bedrooms and a spacious Master Suite with walk-in closet. Plantation shutters and crown moldings throughout the home. Dual pane windows and sliding door. Fresh new paint. Direct access to the 2 car garage and the laundry area. This unit is also a very short distance from the clubhouse, pool and spa area. Not to mention its affordable HOA and super low tax. Great starter home which you do not want to miss!!!

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
El Cerrito Middle School Middle Regular 1,256 43 8
Centennial High School High Regular 3,306 119 8
El Cerrito Middle School Middle Unknown NA

El Cerrito Middle School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 43
8
GreatSchools Rating

Centennial High School

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

El Cerrito Middle School

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

$414,000$506,000$460,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,598
Property Tax -$434
Property Insurance -$61
HOA -$270
Property Management Fees -$128
CASH FLOW
-$321

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.

$460,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,170
$2,170
RENT COMPS ANALYSIS
  • 1151 San Marino Court Corona, CA
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.57
    •  
PROPERTY LISTING DETAILS
Fan Tseung
Remax 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21037967
Last Updated: 02/26/2021
BESbswy