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1448 Burnett Circle Corona, CA 92882

4 Beds 3 Baths 2,512 sqft Built 2011

$749,888

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $298.52
  • 5 Days on Market
  • MLS # : IG21054502
  • Updated Date : 03/17/2021 at 16:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,512 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Partners

Listing Agent's Description

Single Story Oasis in Orchard Glen of Corona! Highly sought after single story home located at the end of a cul de sac in a quiet, tranquil neighborhood. Orchard Glen is known for its LOW TAXES, and LOW HOA- with close proximity to Skyline Hiking trails and quick access to Foothill Expressway. Property features exquisite real hardwood flooring in high traffic areas, Plantation shutters throughout and an expansive great room perfect for entertaining. The large Chef's kitchen is complete with Stainless Steel Dual Ovens, Range, Microwave and Dishwasher- not to mention and oversized island that opens up to the family room. This home is complete with 3 bedrooms + an Office which opens up to a private courtyard with French doors. The large Master Suite has ample natural lighting, peaceful backyard access and an oversized spa-like ensuite bathroom with walk in closet. The backyard is your own personal relaxation station! You will be happy to find a large built in outdoor fireplace to enjoy during cool nights, a built in BBQ for summer grilling and incredibly peaceful mountain views with no one behind you. This home also features a 3 car tandem garage with Epoxy flooring, custom built in cabinetry for extra garage storage and a water filtration system included in the sale. Schedule your private showings of this stunning home to see what Orchard Glen offers you!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k712k

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

Neighborhood: South Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822894

* 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
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Corona High School High Regular 2,933 110 5
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 46
6
GreatSchools Rating

Corona High School

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

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$674,899$824,877$749,888

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,605
Property Tax -$716
Property Insurance -$88
HOA -$134
Property Management Fees -$158
CASH FLOW
-$1,021

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.

$749,888

PROJECTED PRICE

$2,680

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$204,470

INVESTMENT

$204,470

Down Payment
$187,472
Rehab Estimate
$5,750
Closing Costs
$11,248

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,472
Loan Amount $562,416
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,644

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6803$2,7854$2,8755$2,895
$2,895
RENT COMPS ANALYSIS
  • 1448 Burnett Circle Corona, CA 2
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.07
    •  
  • 1375 Wigeon Drive Corona, CA 1
    • 4 beds 2 baths ∙ 2,532 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,532 Sqft ∙ Built 2002
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.05
    •  
  • 1263 Strawcross Lane Corona, CA 3
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2005
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,785
    • $1.03
    •  
  • 3363 Harley Lane Corona, CA 4
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2005
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $1.06
    •  
  • 3333 Clearing Lane Corona, CA 5
    • 3 beds 2 baths ∙ 2,713 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,713 Sqft ∙ Built 2005
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ashley Choumas
Re/max Partners
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21054502
Last Updated: 03/17/2021
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