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19015 Envoy Avenue Corona, CA 92881

3 Beds 3 Baths 1,992 sqft Built 1987

INVESTimate

$601,000

List Price

$2,140

$1,926 - $2,354

Rent Est.

$630,389  ( +4.89%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $301.71
  • 10 Days on Market
  • MLS # : CV20156073
  • Updated Date : 08/22/2020 at 19:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 2 full , 1 half
Listing Agent

Arama Real Estate Services

Listing Agent's Description

Welcome to your little piece of heaven. This wonderful custom ranch still home has everything to offer and so much more. Tucked away in Corona Hills it sits atop over 23,000 acres over looking the entire Corona Valley (WHAT A VIEW). The owner has spared no expense on the small details. Entrance to the property is an electric wrought iron remote control gate. Brick pavers surround the entire main house with lavish trees and planters. The house has a wrap around custom patio of the entire house w/surround sound. Included in the sale: storage cabinets, garden work table, refrigerator, and 2 flat screen TVs, Washer & Dryer. Interior of the home offers: hardwood floors, custom kitchen, 2 french doors entering the patio, 2 fireplace, ceiling fans, new carpet, custom stain glass window leading upstairs. Main house has an attached 2 car garage with finished walls. But wait, there is more.Take the outside custom stairs to the top of the property & enjoy the trees as you climb, they are connected to self watering barrels. At the top of the stairs you will find another unit. It can be used as extra garage space or rent the space out for additional income. The unit has electrical already updated for a workshop or possible tenants, the skies the limit on the use of this extra unit. If you are looking for the ultimate social distancing, then look no further. This house has it all, privacy & too many upgrades to mention. Wait until you see this one, you will be so blown away by this beauty.

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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: Temescal Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $138k627k

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

Neighborhood: Temescal Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9502579

* 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
 

$540,900$661,100$601,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$2,217
Property Tax -$562
Property Insurance -$67
Property Management Fees -$126
CASH FLOW
-$832

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.

$601,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.89%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$165,015

INVESTMENT

$165,015

Down Payment
$150,250
Rehab Estimate
$5,750
Closing Costs
$9,015

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,250
Loan Amount $450,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,274

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,1003$2,1404$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 19015 Envoy Avenue Corona, 3
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.30
    •  
  • 19175 Envoy Avenue Corona, 1
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1980
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.42
    •  
  • 20286 Newton Street Corona, 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1984
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.35
    •  
  • 1426 White Holly Drive Corona, 4
    • 4 beds 3 baths ∙ 1,822 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,822 Sqft ∙ Built 1997
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.37
    •  
  • 940 Birmingham Drive Corona, 5
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.40
    •  
PROPERTY LISTING DETAILS
Mara Sweets
Arama Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20156073
Last Updated: 08/22/2020
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