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20271 Case Street Corona, CA 92881

4 Beds 3 Baths 2,870 sqft Built 2005

$639,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $222.65
  • 2 Days on Market
  • MLS # : IG21019993
  • Updated Date : 01/30/2021 at 13:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,870 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax One

Listing Agent's Description

A Grand curb appeal that's unique in it's kind. A valley of custom designed stairs made of earth toned stone welcomes you into this largely spaced home. Perfect for the growing family. A custom floor plan that is ideal for all the living space you need. Paired with lot's of windows and featuring 4 bedrooms and 2.5 baths. A welcoming formal entry with gorgeous travertine floors that opens up to the kitchen and extra large family room, complete with a gas fire place. The kitchen is very open and provides an extension of counter space and cupboards. The simi spiral staircase delivers you to all the bedrooms upstairs. A large size master bedroom also provides a private balcony for extra relaxation. All the bedrooms are generous in size and provides the expectation of comfort. The owner put a lot of thought into the backyard. There you can welcome family and friends with generous space that is set up perfectly for gatherings and summer BBQ's, trimmed with fruit trees and detailed stone/pavers work. A delightful opportunity that is few and rare.

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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: 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
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,219
Property Tax -$594
Property Insurance -$97
Property Management Fees -$172
CASH FLOW
-$172

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.

$639,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.46%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$26,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,963

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,8003$2,9104$2,9955$3,050
$3,050
RENT COMPS ANALYSIS
  • 20271 Case Street Corona, CA 3
    • 4 beds 3 baths ∙ 2,870 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,870 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.01
    •  
  • 3618 Wayne Street Corona, CA 1
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2006
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.03
    •  
  • 3757 Nelson Street Corona, CA 2
    • 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
  • 1536 Chestnut Circle Corona, CA 4
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1992 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1992
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.94
    •  
  • 1521 Heartland Way Corona, CA 5
    • 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 1994
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.06
    •  
PROPERTY LISTING DETAILS
Joshua Huizar
Remax One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21019993
Last Updated: 01/30/2021
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