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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Horsethief Canyon Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$176,675
LOAN DETAILS
$2,240
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $161,250 |
| Loan Amount | $483,750 |
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
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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
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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
Inland Financial Associates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21009323
Last Updated: 01/18/2021
