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1277 Marriott Circle Corona, CA 92882

4 Beds 3 Baths 1,802 sqft Built 1988

$599,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $332.91
  • 4 Days on Market
  • MLS # : IG21018791
  • Updated Date : 01/30/2021 at 08:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,802 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Original Owner has put $175,000 into this beautiful home located on a cul-de-sac in a great neighborhood with no HOA or Special Assessments. Click onto the supplements to see breakdown of the upgrades. This is a beautiful 4 bedroom/2.5 bath home - but you will love the 3 panel sliding doors into the beautiful outdoor living patio space - the seller has provided you with this outdoor living space with all you need for your entertaining needs - bar-b-que, side burners, refrigerator, kegerator and icemaker. Kitchen has been updated with beautiful white cabinets, upgraded stainless steel appliance package, granite counters and upgraded backsplash. You have 4 bedrooms and 2 baths up. The list goes on - but go onto the supplement page to see the entire breakdown. There may be others come up for less in the area, but when you add up what you would need to dig into your pocket on those, you will certainly see the value here - it's ready to move into and you will enjoy the location of the cul-de-sac and the upgrades. Once you evaluate this value I'm sure we'll see you in escrow.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Raney Intermediate School Middle Regular 738 30 5
Corona High School High Regular 2,933 110 5
Corona High School High Unknown NA

Raney Intermediate School

  • Education Level: Middle
  • # of students: 738
  • # of teachers: 30
5
GreatSchools Rating

Corona High School

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

Corona High School

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

$539,910$659,890$599,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,084
Property Tax -$571
Property Insurance -$71
Property Management Fees -$139
CASH FLOW
-$505

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.

$599,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.39%

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$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,451

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,3953$2,4004$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1277 Marriott Circle Corona, CA 1
    • 4 beds 3 baths ∙ 1,802 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,802 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.31
    •  
  • 1317 Bottlebrush Street Corona, CA 2
    • 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 1988
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.27
    •  
  • 1314 Casitas Circle Corona, CA 3
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1988
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.40
    •  
  • 1817 Ponderosa Circle Corona, CA 4
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1986
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.43
    •  
  • 1262 Biltmore Circle Corona, CA 5
    • 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 1988
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.34
    •  
PROPERTY LISTING DETAILS
Dave Clark
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21018791
Last Updated: 01/30/2021
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