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18645 Quail Hill Road Corona, CA 92881

5 Beds 3 Baths 2,700 sqft Built 1975

$724,900

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1975
  • Price/Sqft : $268.48
  • 14 Days on Market
  • MLS # : IV20219209
  • Updated Date : 10/29/2020 at 12:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Power Of 2 Realty

Listing Agent's Description

If you have been waiting for the home that has it all then look no further! This Huge Lot Pool Home is sure to impress with expansive city light views. The large lot is a perfect spot for Horses, RVs and all your toys with space still to spare for an ADU (with a natural separate entrance and plenty of Privacy). This home has been loving maintained and tastefully updated with wood flooring and whitewashed vaulted tongue and groove ceilings. Functionally there is a large kitchen with granite countertops and high grade stainless appliances including wine fridge as well as Large Bar in the adjacent Living room. The 5 beds 3 baths are perfect for a large family or great Situation for dual offices. The master bedroom is large and well positioned with a view from its private deck. This home is an exceptional value and is truly a rare find, so lace up your shoes and head right over because this beauty will not last! ***Drop in appointments on Saturday 10/31 from 12-3 basically an open house but covid compliant**

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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: El Cerrito

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: El Cerrito

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
Wilson Elementary School Primary Regular 981 33 6
El Cerrito Middle School Middle Regular 1,256 43 8
Centennial High School High Regular 3,306 119 8

Wilson Elementary School

  • Education Level: Primary
  • # of students: 981
  • # of teachers: 33
6
GreatSchools Rating

El Cerrito Middle School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 43
8
GreatSchools Rating

Centennial High School

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

$652,410$797,390$724,900

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,675
Property Tax -$674
Property Insurance -$93
Property Management Fees -$183
CASH FLOW
-$515

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.

$724,900

PROJECTED PRICE

$3,110

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$197,849

INVESTMENT

$197,849

Down Payment
$181,225
Rehab Estimate
$5,750
Closing Costs
$10,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,225
Loan Amount $543,675
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$14,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,835

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$3,110
$3,110
RENT COMPS ANALYSIS
  • 18645 Quail Hill Road Corona, CA 2
    • 5 beds 2 baths ∙ 2,700 Sqft ∙ Built 1975 5 beds 2 baths ∙ 2,700 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $1.15
    •  
  • 3750 Columbia Circle Corona, CA 1
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 1990
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jared Jones
Power Of 2 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20219209
Last Updated: 10/29/2020
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