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

2124 Berkshire Circle Corona, CA 92879

3 Beds 3 Baths 1,670 sqft Built 1986

$549,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $328.74
  • 2 Days on Market
  • MLS # : OC20252981
  • Updated Date : 12/12/2020 at 13:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming cul-de-sac family home! Three bedrooms, 2.5 bathrooms, and an additional sun room perfect as an office, play space, or exercise room. This floor plan features plenty of space accentuated by high ceilings and lots of natural light. Upon entry, you're welcomed by a formal living room and dining room, along with an updated kitchen featuring stainless steel Viking Stove, a 48in built-in subzero fridge! The living room features a fireplace encased in a beautiful stone accent wall and looks out to the saltwater Pebble Tech finish pool and spa in the spacious backyard. Just atop the stairs are two well lit bedrooms with ceiling fans, and across the hall is the master suite complete with a walk in closet, vanity, shower, and balcony looking out over the whole backyard. Solar panels will be paid off with the sale of the property by the sellers, leaving you with a FULLY PAID solar system to keep your sparkling pool heated year round!

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: Concordia

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Concordia

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822579

* 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
John Stallings Elementary School Primary Regular 566 24 4
El Cerrito Middle School Middle Regular 1,256 43 8
Centennial High School High Regular 3,306 119 8

John Stallings Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 24
4
GreatSchools Rating

El Cerrito Middle School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 43
8
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,306
  • # of teachers: 119
8
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,026
Property Tax -$536
Property Insurance -$68
Property Management Fees -$148
CASH FLOW
-$267

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.

$549,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$18,836

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,518

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,5104$2,5805$2,595
$2,595
RENT COMPS ANALYSIS
  • 2124 Berkshire Circle Corona, CA 3
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.50
    •  
  • 874 Autumn Lane Corona, CA 1
    • 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 1995
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.50
    •  
  • 930 Ferndale Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 1997
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.60
    •  
  • 2893 Johnson Circle Corona, CA 4
    • 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 1994
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.53
    •  
  • 940 Birmingham Drive Corona, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Stuart Wann
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20252981
Last Updated: 12/12/2020
BESbswy