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2435 Antelope Drive Corona, CA 92882

4 Beds 3 Baths 1,784 sqft Built 1977

$649,988

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $364.34
  • 12 Days on Market
  • MLS # : IG21012186
  • Updated Date : 01/28/2021 at 10:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

TURNKEY! Do you love a beautiful kitchen, fruit trees and a pool? Looking for privacy? You will love this beautiful home, located on a spacious tree lined street, in a highly desirable neighborhood. Every detail of this custom home was carefully selected and quality crafted. You’ll enjoy the sunny, bright living room with floor to ceiling picture windows, cathedral ceilings and a full dining room. The remodeled kitchen features beautiful upgraded cabinets, granite countertops, recessed lighting and stainless steel appliances. This well-appointed home also features high quality wood flooring, a uniquely, beautiful fireplace, an upgraded downstairs powder room and a lovely sliding door leading out to the spacious landscaped rear yard, featuring 2 patio covers, fruit trees, large pool, hardscape and firepit. The dramatic stairway leads to the master suite, a private retreat featuring a beautifully upgraded bath. The guest bedroom boosts a unique built out space, making this a large room for guests or a home office. The guest bathroom is beautifully upgraded. Home is easily accessible to the new Foothill Expressway and 91 freeway, minutes from Orange County, hiking trails and parks. You’ll enjoy a stunning view of the Cleveland National Forest. Great private location backing to a large green belt that is part of the HOA along with a community pool and sports area. No neighbors behind! Very low HOA and low taxes! Check out the 3D Tour: http://bit.ly/2435Antelope

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: South Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k712k

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

Neighborhood: South Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822894

* 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
Adams Elementary School Primary Regular 717 28 7
Adams Elementary School Middle Regular 717 28 7
Corona High School High Regular 2,933 110 5

Adams Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 28
7
GreatSchools Rating

Adams Elementary School

  • Education Level: Middle
  • # of students: 717
  • # of teachers: 28
7
GreatSchools Rating

Corona High School

  • Education Level: High
  • # of students: 2,933
  • # of teachers: 110
5
GreatSchools Rating
 

$584,989$714,987$649,988

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,258
Property Tax -$614
Property Insurance -$70
HOA -$110
Property Management Fees -$150
CASH FLOW
-$652

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.

$649,988

PROJECTED PRICE

$2,550

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,997

INVESTMENT

$177,997

Down Payment
$162,497
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,497
Loan Amount $487,491
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,502

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4753$2,4954$2,5505$2,550
$2,550
RENT COMPS ANALYSIS
  • 2435 Antelope Drive Corona, CA 5
    • 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,784 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.43
    •  
  • 1314 Casitas Circle Corona, CA 1
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1988
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.40
    •  
  • 1567 San Rafael Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 1990
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.47
    •  
  • 1974 Sage Avenue Corona, CA 3
    • 4 beds 1 baths ∙ 1,895 Sqft ∙ Built 1984 4 beds 1 baths ∙ 1,895 Sqft ∙ Built 1984
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.32
    •  
  • 1551 San Fernando Drive Corona, CA 4
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1990
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
PROPERTY LISTING DETAILS
Diana Renee
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21012186
Last Updated: 01/28/2021
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