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1976 Via Del Rio Corona, CA 92882

3 Beds 2 Baths 1,520 sqft Built 1955

$509,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $335.46
  • 6 Days on Market
  • MLS # : CV20264017
  • Updated Date : 12/29/2020 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 1 full , 1 half
Listing Agent

Century 21 King

Listing Agent's Description

Another Great listing in Corona for sale only, this Beautiful Mid Century Modern home with beautiful beams offers a 3 bedrooms and 2 baths with an amazing open floor plan for entertainment, laminate flooring through out, cozy family room with custom fire place, living room and dining room that opens to a beautiful kitchen all rehab with new cabinets, quartz counter, sink and dishwasher, inside laundry area for a double stack w&D. Beautiful bathroom with custom tile in shower and vanity with quartz counter. All bedrooms are roomy with ceiling fans and nice size closets. Cozy backyard with custom cement slab and Patio is perfect for entertainment with beautiful views of the hills. This Property has been upgraded! NEW flooring - NEW carpets - NEW quartz counter tops - NEW kitchen cabinets - UPGRADED Bathrooms - NEW brass door knobs - NEW exterior and interior paint - NEW base boards - and so many others upgrades! Close to Schools, transportation, shopping, parks and easy access to 91 freeway. Come and see this great opportunity! It will not last!

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: Yorba Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $125k627k

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

Neighborhood: Yorba Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10442579

* 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
Cesar Chavez Academy Primary Regular 952 33 6
Cesar Chavez Academy Middle Regular 952 33 6
Corona High School High Regular 2,933 110 5

Cesar Chavez Academy

  • Education Level: Primary
  • # of students: 952
  • # of teachers: 33
6
GreatSchools Rating

Cesar Chavez Academy

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 33
6
GreatSchools Rating

Corona High School

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

$458,910$560,890$509,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,881
Property Tax -$474
Property Insurance -$64
Property Management Fees -$123
CASH FLOW
-$453

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.

$509,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,874

INVESTMENT

$140,874

Down Payment
$127,475
Rehab Estimate
$5,750
Closing Costs
$7,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,881

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,475
Loan Amount $382,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,333

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0903$2,3004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1976 Via Del Rio Corona, CA 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.38
    •  
  • 1459 Camelot Drive Corona, CA 1
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1972
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.46
    •  
  • 1478 Via Del Rio Corona, CA 3
    • 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1973
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.52
    •  
  • 2130 Pine Crest Drive Corona, CA 4
    • 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1975
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.62
    •  
  • 1553 Chalgrove Drive Corona, CA 5
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1975
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.54
    •  
PROPERTY LISTING DETAILS
Ricardo Acevedo
Century 21 King
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20264017
Last Updated: 12/29/2020
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