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19804 Grant Street Corona, CA 92881

4 Beds 2 Baths 1,785 sqft Built 1976

$559,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1976
  • Price/Sqft : $313.17
  • 10 Days on Market
  • MLS # : IG20224320
  • Updated Date : 10/26/2020 at 12:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Single story pool home in Corona is ready for new owner. This floor plan offers an open feel both indoor and out. 4 spacious bedrooms, 2 bathrooms and enough room in that yard to store all the toys, boats and RV's that you can imagine. Interior features spacious living areas. Kitchen with granite counter tops and stainless appliances, double oven and 5 burner cook top. Kitchen flows into the family room with a beautiful brick fireplace. Outdoor covered patio and sparkling pool. Oversized 2 car garage will easily fit 2 cars AND a sizeable workshop. Close to schools, parks and shopping. Blocks away from the Corona Crossings and Dos Lagos shopping and dining. Super low taxes and no HOA.

SEE MORE

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 Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $138k627k

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

Neighborhood: El Cerrito Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10192579

* 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
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,062
Property Tax -$522
Property Insurance -$70
Property Management Fees -$139
CASH FLOW
-$435

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.

$559,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.9%
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$15k

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$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$9,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,222

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3503$2,360
$2,360
RENT COMPS ANALYSIS
  • 19804 Grant Street Corona, CA 3
    • 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.32
    •  
  • 20286 Newton Street Corona, CA 1
    • 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
    •  
  • 7291 Liberty Avenue Corona, CA 2
    • 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1977
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.14
    •  
PROPERTY LISTING DETAILS
Michael Killam
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20224320
Last Updated: 10/26/2020
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