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1501 San Rafael Place Corona, CA 92882

3 Beds 3 Baths 1,780 sqft Built 1990

$539,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $303.31
  • 21 Days on Market
  • MLS # : IG20226511
  • Updated Date : 11/11/2020 at 07:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Experience 180-degree views of the local mountains—including Mt. Baldy and the San Bernardino Mountains—and the night-light twinkling from multiple cities in the best tract location within the sought-after community of Sierra Del Oro next to Yorba Linda. Featuring an amazingly secluded location on a cul-de-sac street, this home boasts a 2-car garage, 2 additional parking spaces, and large driveway. The remodeled kitchen will bring out your inner chef with features like granite countertops, stainless steel appliances, and professionally stained cabinets. Bask in the cool breeze, city lights stretching for miles, and firework displays from multiple cities from the convenience of your own master bedroom balcony. Pamper yourself in the spa-like and newly remodeled master bath featuring an oversized shower and separate jetted tub. A natural greenbelt behind this home creates extra privacy, in addition to a peaceful backyard that features a gas firepit and tranquil water features. Additional amenities include wood flooring, crown moldings throughout, upgraded chandeliers, and a large loft located upstairs to fit your flexible lifestyle. The garage features high-grade cabinets and overhead racks. The community offers a swimming pool with picnic area, and a toddler’s playground, all located just minutes to the 91 freeway and express lanes, the 241-toll road, 71 Expressway, and the Metrolink station. Don’t wait to tour this property, views homes like this don’t come around often!

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: 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
 

$485,910$593,890$539,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,992
Property Tax -$587
Property Insurance -$70
HOA -$100
Property Management Fees -$140
CASH FLOW
-$519

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.

$539,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.44%

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$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

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$148,824

INVESTMENT

$148,824

Down Payment
$134,975
Rehab Estimate
$5,750
Closing Costs
$8,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,975
Loan Amount $404,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,510

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,4953$2,5504$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1501 San Rafael Place Corona, CA 1
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.33
    •  
  • 1974 Sage Avenue Corona, CA 2
    • 4 beds 1 baths ∙ 1,895 Sqft ∙ Built 1984 4 beds 1 baths ∙ 1,895 Sqft ∙ Built 1984
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.32
    •  
  • 1551 San Fernando Drive Corona, CA 3
    • 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
    •  
  • 1131 Vista Lomas Lane Corona, CA 4
    • 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 1989
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.42
    •  
  • 3103 Sagewood Lane Corona, CA 5
    • 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 1988
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.48
    •  
PROPERTY LISTING DETAILS
Nolasco Blandon
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20226511
Last Updated: 11/11/2020
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