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1360 Pinewood Drive Corona, CA 92881

3 Beds 3 Baths 2,365 sqft Built 2000

$619,999

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $262.16
  • 7 Days on Market
  • MLS # : CV21006491
  • Updated Date : 01/15/2021 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,365 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

This gem is located in the city of Corona. When you walk into the home, the first thing you will notice is the high ceilings! Property has crown molding throughout, and a nice open floor plan. Gorgeous wood floors throughout the living room, dinning room and bedroom. Tile flooring throughout the kitchen & family room. The kitchen has stainless steel appliances, granite countertops and a beautiful kitchen island. Master suite comes with large custom closet, and separate shower & tub. Walk-in closets in every bedroom, and secondary bedroom with wood flooring. There is a bonus room,it would be great for an office, play room or guest bedroom. Convenient access to the upstairs laundry room. The backyard has a koi pond and 3 ft waterfall, lots of space for your entertaining needs. Property has boat/RV parking with a wrought iron gate. This property is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Chase Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k732k

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

Neighborhood: Chase Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822931

* 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
Orange Elementary School Primary Regular 789 28 7
Orange Elementary School Middle Regular 789 28 7
Santiago High School High Regular 3,692 129 8

Orange Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 28
7
GreatSchools Rating

Orange Elementary School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 28
7
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 3,692
  • # of teachers: 129
8
GreatSchools Rating
 

$557,999$681,999$619,999

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,153
Property Tax -$676
Property Insurance -$84
Property Management Fees -$155
CASH FLOW
-$439

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.

$619,999

PROJECTED PRICE

$2,630

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $464,999
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$8,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,637

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6003$2,6304$2,6505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1360 Pinewood Drive Corona, CA 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.11
    •  
  • 850 Sugar Maple Lane Corona, CA 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1994
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.18
    •  
  • 1189 Carter Lane Corona, CA 2
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1999
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.11
    •  
  • 1456 Pinewood Drive Corona, CA 4
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2000
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.07
    •  
  • 3757 Nelson Street Corona, CA 5
    • 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Annette Fraley
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21006491
Last Updated: 01/15/2021
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