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2097 San Antonio Drive Corona, CA 92882

3 Beds 3 Baths 1,516 sqft Built 1992

$580,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $382.59
  • 2 Days on Market
  • MLS # : OC21145598
  • Updated Date : 07/12/2021 at 17:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Great starter home nestled in the scenic community of Sierra Del Oro next to Yorba Linda. Subject property has 3 bedroom 2.5 bath, 2 car garage direct access. Low HOA. Property has high ceiling, master bedroom has walk in closet and view of the mountains and city lights. There is a LOFT currently being used as an office, can be use as a den, Cozy backyard has new vinyl fences and concrete area. Enjoy the afternoon breeze and the peacefulness of the nearby mountains with city lights view at night. Very close to the community pool, picnic benches, and toddler's playground, and a short distance away from the elementary school, shopping center and a park featuring a water splash zone. Just minutes away from the 91 freeway, 91 express lanes, 241 freeway, 71 freeway and Metro Link train station, This property won't last, Bring your buyers and let's open escrow !

SEE MORE

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: Sierra del Oro

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k673k

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

Neighborhood: Sierra del Oro

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822746

* 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
Corona High School High Regular 2,933 110 5
Corona High School High Unknown NA

Corona High School

  • Education Level: High
  • # of students: 2,933
  • # of teachers: 110
5
GreatSchools Rating

Corona High School

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

$522,000$638,000$580,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$2,015
Property Tax -$631
Property Insurance -$64
HOA -$100
Property Management Fees -$135
CASH FLOW
-$655

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.

$580,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $2,297

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,3003$2,4004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 2097 San Antonio Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.51
    •  
  • 1478 Via Del Rio Corona, CA 2
    • 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1973
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.52
    •  
  • 2110 San Antonio Drive Corona, CA 3
    • 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,516 Sqft ∙ Built 1992
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.58
    •  
  • 1567 San Rafael Drive Corona, CA 4
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 1990
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.48
    •  
  • 3103 Sagewood Lane Corona, CA 5
    • 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 1988
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.48
    •  
PROPERTY LISTING DETAILS
John Reyes
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21145598
Last Updated: 07/12/2021
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