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1340 San Ponte Road Corona, CA 92882

4 Beds 3 Baths 2,194 sqft Built 1989

$675,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $307.66
  • 3 Days on Market
  • MLS # : SW20255848
  • Updated Date : 12/11/2020 at 16:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,194 sqft
  • Baths : 3 full
Listing Agent

Rancon Real Estate

Listing Agent's Description

Impressive Views from this Fantastic Home nestled in the highly desirable “Sierra Del Oro Community” off Green River Road, offers 4 Bedrooms, 3 Bathrooms and approximately 2,194 square feet, of incredible living space. This open floor plan home comes with lots of windows that give astounding natural light, spectacular cathedral ceilings, fresh interior paint, open kitchen with an island, granite counter tops and stainless steel appliances, crown molding throughout, upgraded baseboards, and a cozy fireplace in the family room. It also offers a downstairs bedroom with a full bathroom. The upstairs comes with the beautiful and spacious master suite with a walk in closet and sensational high ceilings and amazing views. The master bath offers an over-sized jetted tub, upgraded tiled tub walls, separate walk in shower and beautiful tiled flooring. The backyard offers complete privacy, with fabulous city light views and beautiful sunsets and mountain views, and a nice standalone covered patio to sit, relax and enjoy the amazing views. The home has excellent curb appeal and is located close to the freeway, schools and shopping. Please follow all guidelines pertaining to COVID-19 regulations.

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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: Sierra del Oro

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k673k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Sierra del Oro

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822746

* 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
Cesar Chavez Academy Primary Regular 952 33 6
Cesar Chavez Academy Middle Regular 952 33 6
Corona High School High Regular 2,933 110 5

Cesar Chavez Academy

  • Education Level: Primary
  • # of students: 952
  • # of teachers: 33
6
GreatSchools Rating

Cesar Chavez Academy

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 33
6
GreatSchools Rating

Corona High School

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

$607,500$742,500$675,000

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 -$2,490
Property Tax -$734
Property Insurance -$80
HOA -$44
Property Management Fees -$162
CASH FLOW
-$761

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.

$675,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,948

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
  • $1.25

    LIST RENT PER SQFT
  • $2,507

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5953$2,7004$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 1340 San Ponte Road Corona, CA 5
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.25
    •  
  • 1439 Canyon Crest Drive Corona, CA 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 1992
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
  • 3284 Skyview Lane Corona, CA 2
    • 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 1989
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.17
    •  
  • 3355 Deaver Drive Corona, CA 3
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1988
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.14
    •  
  • 4746 Satin Bell Drive Corona, CA 4
    • 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 1984
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.20
    •  
PROPERTY LISTING DETAILS
Sonia Segura
Rancon Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20255848
Last Updated: 12/11/2020
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