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PROPERTY INFO
FACTS
- Single Family
- Built In 1972
- Price/Sqft : $301.74
- 2 Days on Market
- MLS # : IG20240034
- Updated Date : 11/14/2020 at 16:23
CONSTRUCTION
- Beds : 4
- Floor Size : 1,952 sqft
- Baths : 3 full
Listing Agent
Clp Realty, Llc
Listing Agent's Description
This is a unique property with so much potential..The pictures don't show how much land this has, but it is for someone who wants space, a place for RV Parking, room for kids to run around, and then play in the pool area....This house is a wonderful single story home, the does need TLC, but once completed will be an oasis. It has two master bedrooms, and another 2 bedrooms. Kitchen has been recently redone. It has an open floorplan with a separate family room, dining room, and huge living area. Once outside, so much room to have any kind of backyard someone would like to have. There is also in the backyard a koy pond, and a wine cellar that is being used as storage right now...Come take a look for that person who wants some land.
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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: Eagle Glen
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eagle Glen
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,370 |
| EXPENSES | Loan Payment | -$2,173 |
| Property Tax | -$548 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$565
|
||
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.
$589,000
PROJECTED PRICE
$2,370
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 4.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| 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
$161,835
LOAN DETAILS
$2,173
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $147,250 |
| Loan Amount | $441,750 |
1.42
YEARS SAVED
$4,962
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,370
LIST RENT -
$1.21
LIST RENT PER SQFT
-
$2,447
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
19965 Rockwell Road Corona, CA 2
- 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,952 Sqft ∙ Built 1972
![property image]()
- Rent
- Rent Per SQFT
- $2,370
- $1.21
-
7291 Liberty Avenue Corona, CA 1
- 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1977
![property image]()
LEASED 08/02/20- Rent
- Rent Per SQFT
- $2,350
- $1.14
-
940 Birmingham Drive Corona, CA 3
- 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987
![property image]()
LEASED 02/21/20- Rent
- Rent Per SQFT
- $2,595
- $1.40
-
956 Yardley Way Corona, CA 4
- 5 beds 3 baths ∙ 2,129 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,129 Sqft ∙ Built 1989
![property image]()
LEASED 08/15/19- Rent
- Rent Per SQFT
- $2,600
- $1.22
PROPERTY LISTING DETAILS
Clp Realty, Llc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20240034
Last Updated: 11/14/2020
