Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1385 Kirkwood Drive Corona, CA 92882

4 Beds 2 Baths 1,650 sqft Built 1972

$549,999

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $333.33
  • 6 Days on Market
  • MLS # : IV21002092
  • Updated Date : 01/05/2021 at 18:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome home to 1385 Kirkwood Drive! Schedule your appointment to view today! This beautifully maintained 4-bedroom home is centrally located in the top-rated Corona-Norco Unified School District, and within walking distance of schools and shops. Just minutes from the 91 freeway, you can be in Orange County in 20 minutes! This home has a lot of upgrades. Newer energy efficient windows, full kitchen renovation with granite counters and new cabinets, remodeled hall bathroom, new stone-faced fireplace, nice tile floors that look like hard wood floors, brick pavers in the driveway and backyard, private backyard area with in-ground pool. The master bedroom has an attached bathroom, elevated ceilings, and access to the pool through a sliding door. This home is the definition of low maintenance with concrete in the backyard, and artificial grass in the front yard. Spend less time working and more time enjoying! Beautiful white picket fence surrounds the home and maximizes the space to enjoy. Home was appraised in September 2020 for 550K. No HOA! Come make this your forever home! Make an appointment today!

SEE MORE

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: Central Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Central Corona

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
Coronita Elementary School Primary Regular 624 23 5
Corona Fundamental Intermediate School Middle Regular 1,138 38 6
Corona High School High Regular 2,933 110 5

Coronita Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 23
5
GreatSchools Rating

Corona Fundamental Intermediate School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 38
6
GreatSchools Rating

Corona High School

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

$494,999$604,999$549,999

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,910
Property Tax -$521
Property Insurance -$67
Property Management Fees -$146
CASH FLOW
-$165

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.

$549,999

PROJECTED PRICE

$2,480

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,499
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$21,550

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,525

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4504$2,4805$2,550
$2,550
RENT COMPS ANALYSIS
  • 1385 Kirkwood Drive Corona, CA 4
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.50
    •  
  • 1369 Brockton Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1988
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.50
    •  
  • 2110 San Antonio Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 1992
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.58
    •  
  • 2130 Pine Crest Drive Corona, CA 3
    • 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1975
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.62
    •  
  • 1551 San Fernando Drive Corona, CA 5
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1990
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
PROPERTY LISTING DETAILS
Brennan Doherty
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21002092
Last Updated: 01/05/2021
BESbswy