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22816 Canyon View Drive 
Corona, CA
92883
5 Beds 3 Baths 2,297 sqft
Built 1998
INVESTimate
$589,900
List Price
$162,074
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PROPERTY INFO
FACTS
- Built In 1998
- Price/Sqft : $256.81
- 10 Days on Market
- MLS # : CV20167449
- Updated Date : 08/24/2020 at 08:53
CONSTRUCTION
- Beds : 5
- Floor Size : 2,297 sqft
- Baths : 3 full
Listing Agent
Realty Masters & Associates
Listing Agent's Description
Beautiful Home located in Corona's Top School District. This turn-key home is surrounded by lush green hills, and just a couple of minutes away from outdoor shopping and fine dining at Dos Lagos! This home offers a wide-open layout filled with natural light and plenty of space for hosting and living! Giant gourmet kitchen with entertainers island, and new cabinets have all been remodeled within the last year. This 5 bedroom floor plan offers 2 large bedrooms and 1 full bathroom downstairs, plus 3 bedrooms and a large loft upstairs. The entire home has been modernized with upgraded new waterproof wood vinyl flooring, recessed lighting, and new paint. The spacious Master bedroom includes a walk-in closet with California Build-ins for extra storage. Start your weekend mornings lounging by the backyard pool, or wind down with the breathtaking mountain views visible from the upstairs bedrooms. This home backs up to an open space preserve with no neighbors behind you offering unobstructed views! You'll love this home and community!!
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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: Wildrose
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wildrose
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,640 |
| EXPENSES | Loan Payment | -$2,176 |
| Property Tax | -$593 | |
| Property Insurance | -$83 | |
| HOA | -$65 | |
| Property Management Fees | -$156 | |
|
CASH FLOW
-$433
|
||
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.
$589,900
PROJECTED PRICE
$2,640
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 3.99% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$162,074
LOAN DETAILS
$2,176
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $147,475 |
| Loan Amount | $442,425 |
2.17
YEARS SAVED
$10,253
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,640
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$2,619
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
22816 Canyon View Drive Corona, 3
- 5 beds 3 baths ∙ 2,297 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,297 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $2,640
- $1.15
-
22675 Silver Dollar Street Corona, 1
- 5 beds 2 baths ∙ 2,345 Sqft ∙ Built 1997 5 beds 2 baths ∙ 2,345 Sqft ∙ Built 1997
![property image]()
LEASED 12/13/19- Rent
- Rent Per SQFT
- $2,600
- $1.11
-
22922 Rockcress Street Corona, 2
- 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 1994
![property image]()
LEASED 08/02/20- Rent
- Rent Per SQFT
- $2,625
- $1.12
-
22842 Rockcress Street Corona, 4
- 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,343 Sqft ∙ Built 1994
![property image]()
LEASED 12/13/19- Rent
- Rent Per SQFT
- $2,795
- $1.19
-
8810 Lemonwood Drive Corona, 5
- 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1998
![property image]()
LEASED 02/04/20- Rent
- Rent Per SQFT
- $2,795
- $1.14
PROPERTY LISTING DETAILS
Realty Masters & Associates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20167449
Last Updated: 08/24/2020
