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20061 Klyne St Corona, CA 92881

4 Beds 2 Baths 2,100 sqft Built 1980

$459,990

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $219.04
  • 6 Days on Market
  • MLS # : IV21055272
  • Updated Date : 03/18/2021 at 09:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Reali

Listing Agent's Description

Fantastic One of A Kind Custom Gated Home! Guaranteed you'll never see another home like this. Light, bright, open contemporary space with skylights flooding light from the pitched ceiling. Updated kitchen with cherry cabinets and granite countertops. Separate built in bar area. Built to feel like you are living on a boat. Home needs work but priced to sell. Comparable sq. footage homes in the area selling way above 500k. Amazing opportunity to live in Southern Corona in a very special home. Great sweat equity opportunity. Home consists of a large open circular living space upstairs with upgraded kitchen and bar area. On either side of the home consists two bedrooms that shared updated baths. Special underwater mural surrounds the interior foundation of the home giving a magical and one of a kind feeling. Large detached three car garage with height and long gated driveway for tons of vehicles/storage. All this with no HOA and minutes to freeway, Dos Lagos, Shopping, Golf Courses and so much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Eagle Glen

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k717k

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

Neighborhood: Eagle Glen

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822867

* 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
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Santiago High School High Regular 3,692 129 8
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 46
6
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 3,692
  • # of teachers: 129
8
GreatSchools Rating

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$413,991$505,989$459,990

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,598
Property Tax -$428
Property Insurance -$78
Property Management Fees -$141
CASH FLOW
$145

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.

$459,990

PROJECTED PRICE

$2,390

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,647

INVESTMENT

$127,647

Down Payment
$114,998
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,998
Loan Amount $344,993
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$44,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,536

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3504$2,3905$2,400
$2,400
RENT COMPS ANALYSIS
  • 20061 Klyne St Corona, CA 4
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.14
    •  
  • 3963 Camelback Circle Corona, CA 1
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1999
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
  • 3446 Evening Star Circle Corona, CA 2
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.25
    •  
  • 7291 Liberty Avenue Corona, CA 3
    • 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
    •  
  • 1067 Viewpointe Corona, CA 5
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
PROPERTY LISTING DETAILS
Zim Andican
Reali
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21055272
Last Updated: 03/18/2021
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