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13383 Goldenhorn Drive Corona, CA 92883

4 Beds 2 Baths 2,794 sqft Built 2000

$645,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $230.85
  • 10 Days on Market
  • MLS # : IG21009323
  • Updated Date : 01/18/2021 at 05:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,794 sqft
  • Baths : 2 full
Listing Agent

Inland Financial Associates

Listing Agent's Description

Beautiful Horsethief Canyon Ranch executive home is at the very top of the community. Having one of the most desired floorplans, this upgraded home with no rear neighbors offers a downstairs bedroom and bathroom with walk-in shower. Open & bright living room with cathedral ceiling. Formal dining area. LED lighting throughout. Spacious kitchen has black stainless appliances, tons of cabinet space, granite countertops, center island, & breakfast area. Living room boasts a cozy fireplace with custom surround & matching media hutch. High-end laminate flooring & newer blinds/shutters. Upstairs there is a huge 400sq.ft. bonus room that can be used for an office, playroom, gym, etc. Ceiling fans in every room will keep you cool in the summer. Spacious master bedroom has a vaulted ceiling, large walk-in closet, & balcony with a soothing view. Both upstairs bedrooms are larger & have calming views. All rooms upstairs have shutters, as does the downstairs bedroom. Indoor laundry room. 4-car garage is three cars wide with a tandem section that could easily store a boat or recreational equipment. One side of the yard could be developed for RV parking. Alumawood patio cover leads out to the Jacuzzi spa. Horsethief Canyon Ranch is a great family community w/K-8 school, soccer, & baseball fields right in the community. There are also tennis courts, a beach volleyball court, club house, gym, (2) olympic-sized pools, & several parks. Best of all, there are NO MELLO ROOS, so taxes are low!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,240
Property Tax -$567
Property Insurance -$95
HOA -$85
Property Management Fees -$162
CASH FLOW
-$399

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.

$645,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.43%

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$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$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,803

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6503$2,7504$2,800
$2,800
RENT COMPS ANALYSIS
  • 13383 Goldenhorn Drive Corona, CA 3
    • 4 beds 2 baths ∙ 2,794 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,794 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.98
    •  
  • 13640 Silver Stirrup Drive Corona, CA 1
    • 5 beds 3 baths ∙ 3,089 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,089 Sqft ∙ Built 2004
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.86
    •  
  • 29231 Woodbridge Street Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2014
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.03
    •  
  • 13333 Goldenhorn Drive Corona, CA 4
    • 5 beds 3 baths ∙ 2,496 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,496 Sqft ∙ Built 2001
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.12
    •  
PROPERTY LISTING DETAILS
John Bender
Inland Financial Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21009323
Last Updated: 01/18/2021
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