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1606 Mariposa Drive Corona, CA 92879

4 Beds 2 Baths 1,894 sqft Built 1970

$575,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $303.59
  • 3 Days on Market
  • MLS # : CV21024543
  • Updated Date : 02/05/2021 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,894 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

BEAUTIFUL POOL HOME IN THE CITY OF CORONA, WITH HILL VIEWS. 4 BEDROOM 2 BATH. MASTER BEDROOM IS DOWN STAIRS ALL OTHER BEDROOM ARE UPSTAIRS. SEPARATE LAUNDRY ROOM, 2 CAR GARAGE BEAUTIFUL POOL FOR THEOSE HOT SUMMER DAYS AND A SPA.

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: Corona Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Corona Hills

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
Auburndale Intermediate School Middle Regular 507 24 3
Centennial High School High Regular 3,306 119 8
Auburndale Intermediate School Middle Unknown NA

Auburndale Intermediate School

  • Education Level: Middle
  • # of students: 507
  • # of teachers: 24
3
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,306
  • # of teachers: 119
8
GreatSchools Rating

Auburndale Intermediate School

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

$517,500$632,500$575,000

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 -$1,997
Property Tax -$545
Property Insurance -$73
Property Management Fees -$140
CASH FLOW
-$385

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.

$575,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.3%
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-$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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$9,200

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
  • $1.25

    LIST RENT PER SQFT
  • $2,363

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3704$2,3955$2,395
$2,395
RENT COMPS ANALYSIS
  • 1606 Mariposa Drive Corona, CA 3
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.25
    •  
  • 723 Lassen Drive Corona, CA 1
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1989
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
  • 2131 Tehachapi Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1988
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.35
    •  
  • 2141 La Cruz Circle Corona, CA 4
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1990
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.20
    •  
  • 2129 Cedar Glen Drive Corona, CA 5
    • 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1989
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.20
    •  
PROPERTY LISTING DETAILS
Dennyse Rosas Sandoval
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21024543
Last Updated: 02/05/2021
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