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2157 Kiwi Circle Corona, CA 92879

3 Beds 3 Baths 1,935 sqft Built 1983

$589,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $304.39
  • 3 Days on Market
  • MLS # : CV21014194
  • Updated Date : 01/23/2021 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,935 sqft
  • Baths : 2 full , 1 half
Listing Agent

Major League Real Estate

Listing Agent's Description

Gorgeous turn-key home is centrally located in the heart of Corona, on a cul-de-sac with easy access to schools, shopping and freeways. This 3 bedroom, 2.5 bath home features a large open concept main floor with new waterproof vinyl flooring, recessed lighting, double-paned windows, vaulted ceilings, and crown molding throughout. There is a spacious living room with fireplace and a separate family room with fireplace. Relax in the spacious master bedroom with a newly remodeled bathroom and large balcony. This entertainers backyard includes a gas fire pit, large patio, and built-in horseshoe pits. The extended driveway has potential for RV/boat parking. No HOA fees!!! Do not miss out!

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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Central Corona

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
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,046
Property Tax -$556
Property Insurance -$74
Property Management Fees -$144
CASH FLOW
-$380

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.

$589,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,603

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,4004$2,4405$2,595
$2,595
RENT COMPS ANALYSIS
  • 2157 Kiwi Circle Corona, CA 4
    • 3 beds 3 baths ∙ 1,935 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,935 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.26
    •  
  • 1088 Viewpointe Lane Corona, CA 1
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.34
    •  
  • 1067 Viewpointe Corona, CA 2
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 1036 Sunbeam Lane Corona, CA 3
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1997
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 940 Birmingham Drive Corona, CA 5
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.40
    •  
PROPERTY LISTING DETAILS
Adrie-marie Huezo
Major League Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21014194
Last Updated: 01/23/2021
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