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1830 Pamela Street Corona, CA 92879

4 Beds 1 Baths 2,111 sqft Built 1964

$599,900

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $284.18
  • 11 Days on Market
  • MLS # : PW21014062
  • Updated Date : 01/30/2021 at 17:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,111 sqft
  • Baths : 1 full
Listing Agent

Sundae Homes

Listing Agent's Description

Gorgeous home for sale in Corona! This 4 bedroom, 1.75 bath home has excellent curb appeal with a lush front yard. With tons of charming features, this home is sure to be the envy of the neighborhood. Step through the front door into an open concept floor plan, beaming with tons of natural light, dual paned windows, and gorgeous flooring throughout. The kitchen is complete with stainless steel appliances, soft close cabinets, with beautiful quartz countertops. The bedrooms have been freshly painted and covered with gorgeous floors. Both bathrooms have stylish vanities, new fixtures, quartz countertops, and stunning showers and baths. The backyard is VERY spacious, with a covered patio perfect for outdoor dining, grass, and lots of extra room for entertaining! Located near parks, entertainment, shops, and more! This gem is move-in ready and won't be available long - Check it out today!!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Central Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Central Corona

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
Lincoln Alternative Elementary School Primary Magnet 967 35 9
Lincoln Alternative Elementary School Middle Magnet 967 35 9
Centennial High School High Regular 3,306 119 8

Lincoln Alternative Elementary School

  • Education Level: Primary
  • # of students: 967
  • # of teachers: 35
9
GreatSchools Rating

Lincoln Alternative Elementary School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 35
9
GreatSchools Rating

Centennial High School

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

$539,910$659,890$599,900

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,084
Property Tax -$568
Property Insurance -$78
Property Management Fees -$153
CASH FLOW
-$283

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.

$599,900

PROJECTED PRICE

$2,600

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$20k

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$16,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,772

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,6004$2,695
$2,695
RENT COMPS ANALYSIS
  • 1830 Pamela Street Corona, CA 3
    • 4 beds 1 baths ∙ 2,111 Sqft ∙ Built 1964 4 beds 1 baths ∙ 2,111 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.23
    •  
  • 524 Greengate Street Corona, CA 1
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 1965
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 410 E Rancho Road Corona, CA 2
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1959
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.33
    •  
  • 951 W Francis Street Corona, CA 4
    • 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 1958
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.49
    •  
PROPERTY LISTING DETAILS
Ben Ryan
Sundae Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21014062
Last Updated: 01/30/2021
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