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1598 San Almada Road Corona, CA 92882

4 Beds 3 Baths 2,002 sqft Built 1989

$715,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $357.14
  • 15 Days on Market
  • MLS # : OC20243105
  • Updated Date : 12/05/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,002 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Located in the sought-after community of Sierra Del Oro this beautiful corner lot pool home has it all. The property’s lot is over 15,000 sqft. This home boasts a private backyard oasis perfect for entertaining, with a salt water pool, waterfall, spa, gazebo, build-in stainless steel BBQ, granite island, gas firepit, outdoor patio cover, outdoor tv and Bose speakers. The oversized side yard has many possibilities. Entering the home you are greeted with tall ceilings and open floor plan. The home has a formal living room with newer carpet. The updated kitchen comes equipped with stainless steel appliances, granite counters tops, tile backsplash, and a views of the backyard. The family room has a bar area, built-in entertainment center, and cozy fireplace. Downstairs there is an additional half bath and separate laundry room. Upstairs the master suite has newer carpet, views of the backyard, plantations shutters and vaulted ceilings with an industrial styled fan. The master bathroom has dual sinks, granite counters, tile walk-in shower and large walk-in closet with built-ins. There are three additional bedrooms with plantation shutters, fans and large closets. The guest bathroom has double sinks and tub The home has a newer “YORK” AC system with zoned heating and cooling controls. There is a three car garage with lot of storage and a water softener. One exit from OC -located close to parks, restaurants, schools and most major freeways.

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: 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
 

$643,500$786,500$715,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,638
Property Tax -$778
Property Insurance -$76
HOA -$44
Property Management Fees -$162
CASH FLOW
-$957

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.

$715,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$385

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $2,713

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$2,7404$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1598 San Almada Road Corona, CA 3
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.37
    •  
  • 4568 Feather River Road Corona, CA 1
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.42
    •  
  • 4630 Pennyroyal Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.42
    •  
  • 1340 San Ponte Road Corona, CA 4
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1989
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.25
    •  
  • 3071 Mountainside Drive Corona, CA 5
    • 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1988
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.33
    •  
PROPERTY LISTING DETAILS
Megan Conlin
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20243105
Last Updated: 12/05/2020
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