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1740 Sugar Pine Drive Corona, CA 92882

4 Beds 3 Baths 1,805 sqft Built 1989

$599,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $331.86
  • 4 Days on Market
  • MLS # : OC20258188
  • Updated Date : 12/17/2020 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,805 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Charming 4 bedroom 3 bath with one bedroom and bath downstairs. Home features a large back yard for entertaining. Has outdoor bar, fridge, BBQ, above ground spa; Fenced in area for pets, and storage sheds on site. Also included, newer solar panels on the home. Enjoy low/nonexistent electric bills! Home is situated close to the park for evening walks and great for kids and family gatherings. Home has vaulted ceilings, wonderful wood flooring, and a centrally located kitchen. There are spacious bedrooms including a large master with vaulted ceilings, and a walk-in triple mirrored closet. Other features include double sink in master and beautiful granite counters and cabinetry throughout the home. Close to schools, parks and shopping.

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: Crown Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $110k627k

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

Neighborhood: Crown Ridge

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
Adams Elementary School Primary Regular 717 28 7
Adams Elementary School Middle Regular 717 28 7
Corona High School High Regular 2,933 110 5

Adams Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 28
7
GreatSchools Rating

Adams Elementary School

  • Education Level: Middle
  • # of students: 717
  • # of teachers: 28
7
GreatSchools Rating

Corona High School

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

$539,100$658,900$599,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,210
Property Tax -$567
Property Insurance -$71
HOA -$110
Property Management Fees -$159
CASH FLOW
-$417

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.

$599,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.9%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,644

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,5004$2,5505$2,700
$2,700
RENT COMPS ANALYSIS
  • 1740 Sugar Pine Drive Corona, CA 5
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.50
    •  
  • 1369 Brockton Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1988
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.50
    •  
  • 1314 Casitas Circle Corona, CA 2
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1988
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.40
    •  
  • 1553 Chalgrove Drive Corona, CA 3
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1975
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.54
    •  
  • 1551 San Fernando Drive Corona, CA 4
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1990
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
PROPERTY LISTING DETAILS
Jim Helgeson
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20258188
Last Updated: 12/17/2020
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