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22939 Sunrose Street Corona, CA 92883

4 Beds 3 Baths 1,671 sqft Built 1994

$520,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $311.19
  • 3 Days on Market
  • MLS # : RS21019299
  • Updated Date : 01/29/2021 at 17:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,671 sqft
  • Baths : 3 full
Listing Agent

Bronwyn Realty Inc

Listing Agent's Description

Great location home, centered in South Corona. 4 bedrooms, 2 full bath and a 3/4 bath. 3 bedrooms /2 full baths upstairs, which includes the master suite, a walk in bathroom with double sinks. 1 bedroom, 3/4 bath downstairs, open floor plan with living, kitchen, dinning and family room with a fireplace. downstairs, includes a laundry room. kitchen has several cabinets and Soapstone counter tops with stainless steel appliances and sink. New carpet downstairs in living and office. Private fenced off backyard with covered patio for outdoor entertaining, mountain views. Close to FWY, Dos Lagos, Shopping Centers, Golf Courses, Restaurants, parks. Excellent Corona/Norco Schools and highly rated elementary school, Temescal Valley Elementary.

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: Wildrose

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Wildrose

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
El Cerrito Middle School Middle Regular 1,256 43 8
Santiago High School High Regular 3,692 129 8
El Cerrito Middle School Middle Unknown NA

El Cerrito Middle School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 43
8
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 3,692
  • # of teachers: 129
8
GreatSchools Rating

El Cerrito Middle School

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

$468,000$572,000$520,000

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 -$1,806
Property Tax -$523
Property Insurance -$68
HOA -$65
Property Management Fees -$130
CASH FLOW
-$392

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.

$520,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.0%
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$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,811

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
  • $1.32

    LIST RENT PER SQFT
  • $2,160

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2004$2,2955$2,600
$2,600
RENT COMPS ANALYSIS
  • 22939 Sunrose Street Corona, CA 3
    • 4 beds 3 baths ∙ 1,671 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,671 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
  • 9195 Desert Acacia Lane Corona, CA 1
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1993
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.25
    •  
  • 23203 Canyon Estates Drive Corona, CA 2
    • 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,545 Sqft ∙ Built 1987
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.36
    •  
  • 9299 Palm Canyon Drive Corona, CA 4
    • 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 1987
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.27
    •  
  • 22808 Canyon View Drive Corona, CA 5
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1998
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.29
    •  
PROPERTY LISTING DETAILS
Navy Ortiz
Bronwyn Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: RS21019299
Last Updated: 01/29/2021
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