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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Yorba Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$140,874
LOAN DETAILS
$1,881
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $127,475 |
| Loan Amount | $382,425 |
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
-
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
Century 21 King
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20264017
Last Updated: 12/29/2020
