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1155 W Chase Circle Corona, CA 92882

4 Beds 2 Baths 2,982 sqft Built 2001

$755,000

List Price

$3,040

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $253.19
  • 2 Days on Market
  • MLS # : DW21029647
  • Updated Date : 02/13/2021 at 20:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,982 sqft
  • Baths : 2 full
Listing Agent

Realty World Allensworth

Listing Agent's Description

WELCOME HOME TO 1155 W. CHASE CIRCLE IN CORONA! Fantastic opportunity to own in an established Corona neighborhood with no hoa/ mello roos! Located walking distance from Skyline Drive Trails, this family home boasts 4 bedrooms upstairs, one downstairs office/ bonus room, and 3 bathrooms, all located on a quiet cul de sac. Walk through the quiet&private courtyard area with fountain up to the front doors. Enjoy the beautiful entry, vaulted ceilings&custom railings on staircase. Four bedrooms upstairs, all have views& walk in closets. Master bedroom has en suite full bath, walk-in closet, jetted tub, shower & double vanities. Private balcony off the master offers enjoyment of mountain views&sunsets. Other three bedrooms have views, &one has its own private balcony. Laundry room located upstairs for ease. Central vacuum system located in garage. Downstairs office/ bonus room located right next to powder bath, offering potential 5th bedroom. Kitchen has walk in pantry, dining area & shares access to family room with fireplace. Kitchen is bright, offers views of front courtyard & fountain, corian countertops, built in appliances & breakfast bar. Backyard has covered patio, low maintenance landscaping. Dog run on side yard. Two car attached garage with direct access,& a third, single car garage. 3rd garage can be converted into a Casita (mother in law quarters, student rental), utility hookups present. Central a/c provided by dual zone, 2 unit system, central heat.

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: 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
Corona High School High Regular 2,933 110 5
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

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

Corona High School

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

Citrus Hills Intermediate School

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

$679,500$830,500$755,000

PURCHASE PRICE

$2,736$3,344$3,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,040
EXPENSES Loan Payment -$2,622
Property Tax -$713
Property Insurance -$99
Property Management Fees -$179
CASH FLOW
-$574

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.

$755,000

PROJECTED PRICE

$3,040

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$205,825

INVESTMENT

$205,825

Down Payment
$188,750
Rehab Estimate
$5,750
Closing Costs
$11,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $188,750
Loan Amount $566,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$9,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,040

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $3,221

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0403$3,2004$3,2505$3,400
$3,400
RENT COMPS ANALYSIS
  • 1155 W Chase Circle Corona, CA 2
    • 4 beds 2 baths ∙ 2,982 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,982 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $1.02
    •  
  • 1112 Polaris Drive Corona, CA 1
    • 5 beds 3 baths ∙ 2,872 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,872 Sqft ∙ Built 2000
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.01
    •  
  • 946 Horatio Avenue Corona, CA 3
    • 5 beds 3 baths ∙ 3,074 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,074 Sqft ∙ Built 1996
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.04
    •  
  • 1346 Williamsburg Lane Corona, CA 4
    • 5 beds 4 baths ∙ 2,893 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,893 Sqft ∙ Built 1998
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.12
    •  
  • 3229 Stoneberry Lane Corona, CA 5
    • 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,968 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.15
    •  
PROPERTY LISTING DETAILS
Marina Allensworth
Realty World Allensworth
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21029647
Last Updated: 02/13/2021
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