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11715 Coriander Way Corona, CA 92883

4 Beds 3 Baths 2,410 sqft Built 2015

$589,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $244.77
  • 6 Days on Market
  • MLS # : IV20241994
  • Updated Date : 11/18/2020 at 16:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,410 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Horizon

Listing Agent's Description

Fabulous Corona's Sycamore Creek Neighborhood home, This home says View, view, view! Turnkey conditions all the current modern amenities such as granite counter tops, Italian porcelain tiles, stainless steel appliances, crown moldings, and more. This 4 bed room potential home(main floor office could be converted to bed room if needed) boasts an open floor plan with kitchen family room dining area combo, upstairs there are 3 bed rooms, bonus room, and laundry room. Wake up inspired in the lavish master suite which has views, dual sinks, separate shower/tub, and huge walk-in closet. Now in the back yard / view area is a "California Room" with built-in fireplace. Finally there is a putting green and unfinished area. views of canyon, mountains, sunset glows . PS there is solar

SEE MORE

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: Horsethief Canyon Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Horsethief Canyon Ranch

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
Todd Academy Primary Regular 841 29 8
Todd Academy Middle Regular 841 29 8
Centennial High School High Regular 3,306 119 8

Todd Academy

  • Education Level: Primary
  • # of students: 841
  • # of teachers: 29
8
GreatSchools Rating

Todd Academy

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 29
8
GreatSchools Rating

Centennial High School

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

$530,910$648,890$589,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,176
Property Tax -$577
Property Insurance -$86
HOA -$70
Property Management Fees -$152
CASH FLOW
-$482

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.

$589,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$162,074

INVESTMENT

$162,074

Down Payment
$147,475
Rehab Estimate
$5,750
Closing Costs
$8,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,176

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,475
Loan Amount $442,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,981

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
  • $1.07

    LIST RENT PER SQFT
  • $2,549

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,4953$2,5204$2,5805$2,900
$2,900
RENT COMPS ANALYSIS
  • 11715 Coriander Way Corona, CA 4
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.07
    •  
  • 25042 Acorn Court Corona, CA 1
    • 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.04
    •  
  • 11161 Pinecone Street Corona, CA 2
    • 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.09
    •  
  • 25026 Boxelder Court Corona, CA 3
    • 3 beds 3 baths ∙ 2,421 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,421 Sqft ∙ Built 2004
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.04
    •  
  • 25444 Red Hawk Road Corona, CA 5
    • 5 beds 4 baths ∙ 2,738 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,738 Sqft ∙ Built 2013
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.06
    •  
PROPERTY LISTING DETAILS
Thomas Harness
Re/max Horizon
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20241994
Last Updated: 11/18/2020
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