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

2251 Dorado Street Corona, CA 92879

3 Beds 3 Baths 1,758 sqft Built 1996

INVESTimate

$470,000

List Price

$2,220

$1,998 - $2,442

Rent Est.

$505,344  ( +7.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $267.35
  • 6 Days on Market
  • MLS # : IV20171288
  • Updated Date : 08/25/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rugg Real Estate

Listing Agent's Description

This is the one you've been waiting for!! Located in the desirable Corona Hills community of Del Rey at Corona Ranch. This home features 3 bedrooms, 3 baths and a bright open floor plan. The kitchen has lots of counter space and opens up to the family room with high ceilings and a cozy fireplace, perfect for family gatherings. Upstairs you will find your laundry room, bedrooms, huge loft and master bedroom with its own bathroom, dual sinks and walk in closet. Beautiful backyard with covered sitting area and plenty of yard to play in. Conveniently located close to shopping, restaurants, parks and freeways. Come make this your home sweet home today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
William Mckinley Elementary School Primary Regular 761 29 7
William Mckinley Elementary School Middle Regular 761 29 7
John F. Kennedy Middle College High School High Magnet 646 22 7

William Mckinley Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 29
7
GreatSchools Rating

William Mckinley Elementary School

  • Education Level: Middle
  • # of students: 761
  • # of teachers: 29
7
GreatSchools Rating

John F. Kennedy Middle College High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 22
7
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,734
Property Tax -$484
Property Insurance -$70
HOA -$113
Property Management Fees -$131
CASH FLOW
-$312

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.

$470,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.52%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,211

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2004$2,2205$2,250
$2,250
RENT COMPS ANALYSIS
  • 2251 Dorado Street Corona, 4
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.26
    •  
  • 2136 Cascade Drive Corona, 1
    • 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 1990
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 2255 Indigo Hills Drive Corona, 2
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1994
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.25
    •  
  • 2241 Indigo Hills Drive Corona, 3
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1995
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.28
    •  
  • 2264 Dorado Street Corona, 5
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1996
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.28
    •  
PROPERTY LISTING DETAILS
Brooke Carter
Rugg Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20171288
Last Updated: 08/25/2020
BESbswy