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2550 Glenbush Circle Corona, CA 92882

5 Beds 3 Baths 2,844 sqft Built 1989

$755,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $265.47
  • 6 Days on Market
  • MLS # : IG21043221
  • Updated Date : 03/05/2021 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,844 sqft
  • Baths : 3 full
Listing Agent

Shannon Chudzicki, Broker

Listing Agent's Description

You'll love this modern immaculate 2 story home on a corner lot in the Sierra Del Oro community in Corona. This 5 bedroom, 3 bathroom gives you approx. 2844 Sqft. of living space. Open concept floor plan, Today's trending gray tile flooring throughout, enjoy family gatherings in this expansive living room with high ceiling, next to the elegant dining room with crystal chandelier. This kitchen will inspire your inner chef with its granite counter, breakfast bar, recessed lighting, lots of cabinets, stainless steel appliances, ample amount of counter space, additional eating area with crystal light fixture, family room with decorative flagstone rock fireplace and white mantel, 1 bedroom downstairs with barn doors that could be an office, upgraded downstairs bathroom with newer gray vanity, quartz counter, brush nickle faucet, & soft closing drawers. Large master bedroom, his & her closets that can accommodate the largest wardrobes, barn doors to master bathroom, newer vanity, dual sinks, relaxing jacuzzi bathtub, standing shower with popular white subway tile, hexagon mosaic shower floor, & glass doors. Plantation shutters throughout, laundry room with cabinets, 3 car attached garage with epoxy floors, built-in storage cabinets, low maintenance artificial grass in the front yard & backyard, alumawood patio with lighting. Affordable living with no HOA, low property taxes, few steps away to the Serfas Club Park, easy access to the 91 fwy, 241 Toll Road, and 71 Express.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sierra del Oro

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k673k

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

Neighborhood: Sierra del Oro

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822746

* 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
Corona High School High Regular 2,933 110 5
Corona High School High Unknown NA

Corona High School

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

Corona High School

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

$679,500$830,500$755,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,622
Property Tax -$821
Property Insurance -$96
Property Management Fees -$177
CASH FLOW
-$717

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.

$755,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$205,825

INVESTMENT

$205,825

Down Payment
$188,750
Rehab Estimate
$5,750
Closing Costs
$11,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $188,750
Loan Amount $566,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $3,164

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,8503$3,0004$3,2005$3,350
$3,350
RENT COMPS ANALYSIS
  • 2550 Glenbush Circle Corona, CA 3
    • 5 beds 3 baths ∙ 2,844 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,844 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.05
    •  
  • 2881 Juniper Dr Corona, CA 1
    • 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 1990 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 1990
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.11
    •  
  • 2985 Amber Drive Corona, CA 2
    • 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 1990
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.11
    •  
  • 2451 Glenbush Circle Corona, CA 4
    • 5 beds 3 baths ∙ 2,795 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,795 Sqft ∙ Built 1989
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.14
    •  
  • 2820 Mount Niguel Circle Corona, CA 5
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 1993
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.09
    •  
PROPERTY LISTING DETAILS
Shannon Chudzicki
Shannon Chudzicki, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21043221
Last Updated: 03/05/2021
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