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PROPERTY INFO
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.
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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: Crown Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Crown Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$164,485
LOAN DETAILS
$2,210
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $149,750 |
| Loan Amount | $449,250 |
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
-
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
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- 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
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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
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20258188
Last Updated: 12/17/2020
