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PROPERTY INFO
FACTS
- Single Family
- Built In 1999
- Price/Sqft : $307.69
- 3 Days on Market
- MLS # : IG20239669
- Updated Date : 11/14/2020 at 14:38
CONSTRUCTION
- Beds : 4
- Floor Size : 1,495 sqft
- Baths : 2 full
Listing Agent
National Realty Group
Listing Agent's Description
Beautiful Single Story,4 bedrooms (one is currently used as office or den),2 full bath in immaculate condition. Kitchen with new countertop, New Sink & Faucet ,newer stainless steel appliances, tile flooring in kitchen and all bathrooms. Carpet through out the home. New Custom Paint outside. Ceiling fans in all the rooms. Newer Central air conditioning & water Heater. This is a very well cared for home, original owners have taken great pride in maintaining this home and property. Good size Back yard. Horse Thief Canyon association has 2 wonderful private pools(1 is a Jr. Olympic size), club houses , work out facility , soccer and base ball sports fields. Elementary school is with in walking distance of this home. Walking trails and fabulous views of the Cleveland National Forest right in the community & much more!!!
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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
* 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 | $2,120 |
| EXPENSES | Loan Payment | -$1,697 |
| Property Tax | -$404 | |
| Property Insurance | -$63 | |
| HOA | -$85 | |
| Property Management Fees | -$125 | |
|
CASH FLOW
-$255
|
||
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
$2,120
PROJECTED RENT
0.46%
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
$127,650
LOAN DETAILS
$1,697
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $115,000 |
| Loan Amount | $345,000 |
3
YEARS SAVED
$13,178
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,120
LIST RENT -
$1.42
LIST RENT PER SQFT
-
$2,026
COMP ESTIMATED VALUE -
$1.36
COMP AVG. RENT PER SQFT
Comps Range
-
13393 Knollwood Drive Corona, CA 1
- 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1999
- Rent
- Rent Per SQFT
- $2,120
- $1.42
-
13189 Lucky Spur Lane Corona, CA 2
- 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1992
LEASED 05/20/19- Rent
- Rent Per SQFT
- $2,200
- $1.38
-
27292 Eagles Nest Drive Corona, CA 3
- 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
National Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20239669
Last Updated: 11/14/2020
