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2181 Cedar Glen Circle Corona, CA 92879

3 Beds 3 Baths 1,560 sqft Built 1989

$489,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $313.46
  • 4 Days on Market
  • MLS # : DW21018075
  • Updated Date : 01/28/2021 at 14:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full , 1 half
Listing Agent

Brick & Co Real Estate

Listing Agent's Description

Beautiful home located in La Paloma Ranch Corona Hills. Absolutely amazing location at the end of quiet cul-de-sac street. Excellent floor plan with 3 bedrooms, 2.5 baths, beautiful hardwood floors down stairs, Kitchen with breakfast bar, formal living room, dining room and one of the biggest private yards in the community. Location has easy access to 15 and 91 freeways, shopping and less than one mile to famous Tehachapi, Rockview, Park Vista and Promenade Parks and recreation areas. Cresta View Golf course and Walmart/Costco/Home Depot and Corona Hills Plaza Super Center are also less than a mile! Community association pool and spa.

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: Corona Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Corona Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822621

* 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
Auburndale Intermediate School Middle Regular 507 24 3
Centennial High School High Regular 3,306 119 8
Auburndale Intermediate School Middle Unknown NA

Auburndale Intermediate School

  • Education Level: Middle
  • # of students: 507
  • # of teachers: 24
3
GreatSchools Rating

Centennial High School

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

Auburndale Intermediate School

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

$440,100$537,900$489,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,698
Property Tax -$504
Property Insurance -$65
HOA -$152
Property Management Fees -$130
CASH FLOW
-$349

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.

$489,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,192

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2004$2,2255$2,300
$2,300
RENT COMPS ANALYSIS
  • 2181 Cedar Glen Circle Corona, CA 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.41
    •  
  • 2260 Indigo Hills Drive Corona, CA 1
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1995
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.41
    •  
  • 2260 Dorado Street Corona, CA 2
    • 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1996
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.56
    •  
  • 690 Azure Lane Corona, CA 4
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1991
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $1.30
    •  
  • 2131 Tehachapi Drive Corona, CA 5
    • 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1988
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.35
    •  
PROPERTY LISTING DETAILS
Deanna Schlabsz
Brick & Co Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21018075
Last Updated: 01/28/2021
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