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2255 Dorado Street Corona, CA 92879

3 Beds 3 Baths 1,414 sqft Built 1996

$479,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $338.76
  • 2 Days on Market
  • MLS # : PW20260389
  • Updated Date : 12/19/2020 at 13:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,414 sqft
  • Baths : 2 full , 1 half
Listing Agent

Advance Realty

Listing Agent's Description

A must see home in an excellent community of Corona Hills community of Corona Del Rey that includes: vaulted ceilings, 3 bedrooms, 2 1/2 baths, 1414 sq ft. Good size backyard. 2 car attached garage. Located close to shopping, restaurants, parks and freeways, Metrolink train station, shopping, parks, and restaurants. Community features a gated pool & spa. (Detached home zoned as CONDO/PUD)

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$431,100$526,900$479,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,767
Property Tax -$493
Property Insurance -$61
HOA -$113
Property Management Fees -$129
CASH FLOW
-$374

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.

$479,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.46%

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$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$6,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $2,192

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,1953$2,2004$2,2005$2,550
$2,550
RENT COMPS ANALYSIS
  • 2255 Dorado Street Corona, CA 1
    • 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.55
    •  
  • 2260 Indigo Hills Drive Corona, CA 2
    • 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 3
    • 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
    •  
  • 585 Shenandoah Road Corona, CA 4
    • 3 beds 3 baths ∙ 1,384 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,384 Sqft ∙ Built 1997
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.59
    •  
  • 2591 La Ventana Circle Corona, CA 5
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1987
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.64
    •  
PROPERTY LISTING DETAILS
Martin Cueva
Advance Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20260389
Last Updated: 12/19/2020
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