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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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sierra del Oro
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$195,225
LOAN DETAILS
$2,638
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $178,750 |
| Loan Amount | $536,250 |
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
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4568 Feather River Road Corona, CA 1
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- $2,700
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LEASED 07/26/20- Rent
- Rent Per SQFT
- $2,700
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-
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
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20243105
Last Updated: 12/05/2020
