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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $345.08
- 2 Days on Market
- MLS # : PW21022748
- Updated Date : 02/06/2021 at 15:37
CONSTRUCTION
- Beds : 3
- Floor Size : 1,759 sqft
- Baths : 2 full , 1 half
Listing Agent
Century 21 Award
Listing Agent's Description
Just one exit from OC, in the beautiful GATED family neighborhood of GREEN RIVER, this MOVE IN READY HOME, awaits your arrival! Enjoy incredible VIEWS of the HILLS from the pristine GRASSY BACKYARD, FAMILY ROOM & MASTER BEDROOM! Other features include a newer roof, VINYL WINDOWS with SHUTTERS & newer LAMINATED WOOD FLOORS in main areas, hallways & stairs. The LIVING ROOM/DINING ROOM boasts CATHEDRAL CEILING, & RECESSED LIGHTS. The FAMILY ROOM, open to the KITCHEN, includes a GAS FIREPLACE, RECESSED LIGHTS & SLIDER to the backyard. The REMODELED KITCHEN, with direct access to the 2 CAR ATTACHED GARAGE, has beautiful storage cabinetry, a PANTRY with 2 PULL OUT PILASTERS, expansive GRANITE COUNTER TOPS with a BREAKFAST COUNTER, RECESSED LIGHTS & NEWER STAINLESS STEEL APPLIANCES. At bottom of stairs, there is an UPGRADED HALF BATH with DESIGNER SINK BOWL. An OPEN LOFT upstairs leads to two secondary bedrooms & a MASTER BEDROOM with WALK IN CLOSET & MIRRORED DOOR. The MASTER BEDROOM & one secondary bedroom have beautiful VIEWS of the HILLS. There is an updated HALL BATH with SHOWER. The REMODELED MASTER BATH has DUAL SINKS, & SHOWER with OVAL BATHTUB. Enjoy gorgeous morning & evening views from the COVERED BACKYARD PATIO. Additionally this home boasts a WHOLE HOUSE WATER FILTER, a TANKLESS WATER HEATER, a NEST thermostat. The community CLUBHOUSE with a GYM, POOL TABLES, & TV’s, is surrounded with an OLYMPIC SIZE POOL, SPA, TENNIS COURTS, DOG PARK & BASKETBALL COURTS.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Corona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,660 |
| EXPENSES | Loan Payment | -$2,108 |
| Property Tax | -$566 | |
| Property Insurance | -$70 | |
| HOA | -$175 | |
| Property Management Fees | -$157 | |
|
CASH FLOW
-$416
|
||
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.
$607,000
PROJECTED PRICE
$2,660
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$166,605
LOAN DETAILS
$2,108
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $151,750 |
| Loan Amount | $455,250 |
2.08
YEARS SAVED
$8,321
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,660
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$2,498
COMP ESTIMATED VALUE -
$1.42
COMP AVG. RENT PER SQFT
Comps Range
-
11705 Chadwick Corona, CA 1
- 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 1987
- Rent
- Rent Per SQFT
- $2,660
- $1.51
-
4568 Feather River Road Corona, CA 2
- 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984
LEASED 08/10/19- Rent
- Rent Per SQFT
- $2,700
- $1.42
-
4630 Pennyroyal Drive Corona, CA 3
- 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984
LEASED 07/26/20- Rent
- Rent Per SQFT
- $2,700
- $1.42
PROPERTY LISTING DETAILS
Century 21 Award
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21022748
Last Updated: 02/06/2021
