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13029 Mew Circle Corona, CA 92883

4 Beds 3 Baths 1,748 sqft Built 1990

INVESTimate

$460,000

List Price

$2,150

$1,935 - $2,365

Rent Est.

$488,520  ( +6.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $263.16
  • 6 Days on Market
  • MLS # : IG20163533
  • Updated Date : 08/22/2020 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,748 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to Horse Thief Canyon in Corona! This home has been lovingly cared for with attention to detail, special upgrades and a sense of family. The homeowners have taken extreme pride and added tasteful upgrades such as High End Pergo Flooring, newer carpeting, crown moulding and ambient lighting. Located in a Cul De Sac this is a great home to raise a family in or get away from the every day hustle of life. The home boasts vaulted ceilings that grab your attention immediately as you walk through the front door! The Formal Living Room & Dining Room has great natural sunlight & beautiful Pergo flooring to impress your guests the moment they arrive. Plenty of delicious meals will be made in the kitchen featuring stainless steel appliances, rustic tile countertops and a wine fridge too. A beautiful staircase leads you up to the 2nd floor where you will find 4 well appointed bedrooms all generous in size. The Master Bedroom is LARGE and over looks the expansive backyard with a sitting ledge perfect for a good book and fluffy pillows. The Master Closet is spacious and will have plenty of room to fit lots of clothes and shoes. The backyard is peaceful and perfect for children to play, put in a private pool or sip a glass of wine while you enjoy the misters and the atmosphere. There is so much potential in the backyard with so much space to make it your own. Be sure to take a stroll through the house on the 3 D Virtual Tour!https://my.matterport.com/show/?m=VTzuFCLJmyQ&brand=0

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: 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
Luiseno Elementary School Primary Regular 1,042 42 4
Luiseno Elementary School Middle Regular 1,042 42 4
Temescal Canyon High School High Regular 2,172 89 7

Luiseno Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 42
4
GreatSchools Rating

Luiseno Elementary School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 42
4
GreatSchools Rating

Temescal Canyon High School

  • Education Level: High
  • # of students: 2,172
  • # of teachers: 89
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,697
Property Tax -$404
Property Insurance -$70
HOA -$85
Property Management Fees -$127
CASH FLOW
-$233

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

$2,150

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.20%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1253$2,1504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 13029 Mew Circle Corona, 3
    • 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.23
    •  
  • 27315 Bunkerhill Drive Corona, 1
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 2001
    LEASED 03/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.28
    •  
  • 13045 Fescue Court Corona, 2
    • 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1990
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.34
    •  
  • 27355 Bunkerhill Drive Corona, 4
    • 4 beds 3 baths ∙ 1,798 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,798 Sqft ∙ Built 2001
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.33
    •  
  • 27292 Eagles Nest Drive Corona, 5
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1998
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.33
    •  
PROPERTY LISTING DETAILS
Julia Calderon
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20163533
Last Updated: 08/22/2020
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