Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1915
- Price/Sqft : $342.80
- 8 Days on Market
- MLS # : IV20260558
- Updated Date : 12/22/2020 at 16:29
CONSTRUCTION
- Beds : 3
- Floor Size : 1,444 sqft
- Baths : 1 full , 1 half
Listing Agent
Realty Masters & Associates
Listing Agent's Description
This home is located in beautiful Corona, Ca. The home greets you with an open living space, and has endless opportunities. The upstairs bedrooms feature a jack and jill bathroom that includes a step-in shower. One bedroom welcomes you with a beautiful view that includes french doors leading to the balcony. There is a staircase connected to the balcony that leads to a patio covered spa. Perfect for relaxation. The property features a 2 car garage with endless amounts of storage space and potential trailer parking. Come and see this home it won't last!
SEE MORE
MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Central Corona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Central Corona
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,300 |
| EXPENSES | Loan Payment | -$1,826 |
| Property Tax | -$469 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$193
|
||
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.
$495,000
PROJECTED PRICE
$2,300
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 7.5% |
| 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
$136,925
LOAN DETAILS
$1,826
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $123,750 |
| Loan Amount | $371,250 |
3.83
YEARS SAVED
$20,904
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$1.59
LIST RENT PER SQFT
-
$2,152
COMP ESTIMATED VALUE -
$1.49
COMP AVG. RENT PER SQFT
Comps Range
-
207 Burr St Corona, CA 2
- 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1915 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1915
![property image]()
- Rent
- Rent Per SQFT
- $2,300
- $1.59
-
410 W. 5th St Corona, CA 1
- 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1932 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1932
![property image]()
LEASED 06/30/20- Rent
- Rent Per SQFT
- $1,900
- $1.49
PROPERTY LISTING DETAILS
Realty Masters & Associates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20260558
Last Updated: 12/22/2020
