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13895 Buckskin Trail Drive Corona, CA 92883

6 Beds 3 Baths 2,794 sqft Built 2002

$614,880

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $220.07
  • 6 Days on Market
  • MLS # : IG20231317
  • Updated Date : 11/03/2020 at 10:26
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,794 sqft
  • Baths : 3 full
Listing Agent

Re/max Top Producers

Listing Agent's Description

***MUST SEE CINEMATIC VIDEO TOUR***This Sierra Model is the largest in Horsethief Canyon Ranch, the inviting open floor plan features 2,794 Sq. Ft., 6 Bedrooms, (one on the main level) 4 Bathrooms, and is illuminated by soaring 2-story ceilings and an abundance of windows maximizing the natural light in every room. If space is what your family needs, this home is perfect! Upon entering the home through the double doors, you are greeted with elegant formal living and dining rooms. Tastefully upgraded, the kitchen has granite countertops, a large center island, recessed lighting, all open to the family room featuring a cozy fireplace. New interior paint and carpet, wood flooring in the high traffic areas, and indoor laundry with access to a 4 car tandem garage. This home is elevated on a premium lot, with beautiful views of the surrounding foothills of the Cleveland National Forest. New sod in the backyard. Horsethief Canyon Ranch features the very best community amenities, including 2 large community pools, fitness center, clubhouse, tennis courts, sand volleyball, tot parks, sports fields, fitness trail, dog park, botanical garden, private security patrol, K-8 school right in the neighborhood! LOW LOW TAXES! Come see why so many families love to call Horsethief Canyon Ranch Home:)

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: Horsethief Canyon Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Horsethief Canyon Ranch

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
Luiseno Elementary School Primary Regular 1,042 42 4
Luiseno Elementary School Middle Regular 1,042 42 4
Temescal Canyon High School High Regular 2,172 89 7

Luiseno Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 42
4
GreatSchools Rating

Luiseno Elementary School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 42
4
GreatSchools Rating

Temescal Canyon High School

  • Education Level: High
  • # of students: 2,172
  • # of teachers: 89
7
GreatSchools Rating
 

$553,392$676,368$614,880

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,269
Property Tax -$540
Property Insurance -$95
HOA -$85
Property Management Fees -$150
CASH FLOW
-$598

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.

$614,880

PROJECTED PRICE

$2,540

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,693

INVESTMENT

$168,693

Down Payment
$153,720
Rehab Estimate
$5,750
Closing Costs
$9,223

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,720
Loan Amount $461,160
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,570

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5403$2,6504$2,800
$2,800
RENT COMPS ANALYSIS
  • 13895 Buckskin Trail Drive Corona, CA 2
    • 6 beds 3 baths ∙ 2,794 Sqft ∙ Built 2002 6 beds 3 baths ∙ 2,794 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.91
    •  
  • 13556 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 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
  • 13640 Silver Stirrup Drive Corona, CA 3
    • 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
    •  
  • 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
Nelson Rodriguez
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20231317
Last Updated: 11/03/2020
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