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2559 Macbeth Avenue Corona, CA 92882

5 Beds 3 Baths 2,963 sqft Built 1997

$799,990

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $269.99
  • 3 Days on Market
  • MLS # : IG21029784
  • Updated Date : 02/12/2021 at 11:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,963 sqft
  • Baths : 3 full
Listing Agent

Re/max Partners

Listing Agent's Description

STUNNING Pool Home centrally located between 91/15 Freeway. This beauty boasts 5 bedrooms, 3 bathroom just under 3,000 sq. ft. Rare 4 car drive-through garage with plenty of storage. Gorgeous entry with lit up walk-way and mature palm trees. Upon entering is a large dining/formal sitting room. It is currently used as a game room. The kitchen and family room are ideal for entertaining! The family room is complete with surround sound and a relaxing fireplace. One downstairs bedroom and bathroom perfect for guests. Large separate laundry room. Upstairs are the 4 additional bedrooms. Oversized Primary bedroom with whole house fan, shower/tub and large walk-in closet. At the end of the hallway is an other oversized bedroom with built-in cabinets. The second whole house fan is in the upstairs hallway. This turnkey home has exquisite hard wood floors, tile and carpet throughout. LED lights have been installed throughout the house. 8 camera security system will stay with the house including ring cameras. The backyard is your dream oasis! Newly plastered pool that wraps around the house. Solar for the pool is included and paid off. Built-in BBQ great for entertaining! Welcome Home....

SEE MORE

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: 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
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Santiago High School High Regular 3,692 129 8
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 46
6
GreatSchools Rating

Santiago High School

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

Citrus Hills Intermediate School

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

$719,991$879,989$799,990

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,779
Property Tax -$873
Property Insurance -$99
Property Management Fees -$182
CASH FLOW
-$852

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.

$799,990

PROJECTED PRICE

$3,080

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$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$217,747

INVESTMENT

$217,747

Down Payment
$199,998
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,998
Loan Amount $599,993
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $3,074

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,895
1$2,8952$2,9003$3,0804$3,2005$3,250
$3,250
RENT COMPS ANALYSIS
  • 2559 Macbeth Avenue Corona, CA 3
    • 5 beds 3 baths ∙ 2,963 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,963 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.04
    •  
  • 751 Via Paraiso Circle Corona, CA 1
    • 5 beds 3 baths ∙ 2,943 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,943 Sqft ∙ Built 1994
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.98
    •  
  • 1112 Polaris Drive Corona, CA 2
    • 5 beds 3 baths ∙ 2,872 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,872 Sqft ∙ Built 2000
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.01
    •  
  • 946 Horatio Avenue Corona, CA 4
    • 5 beds 3 baths ∙ 3,074 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,074 Sqft ∙ Built 1996
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.04
    •  
  • 1346 Williamsburg Lane Corona, CA 5
    • 5 beds 4 baths ∙ 2,893 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,893 Sqft ∙ Built 1998
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.12
    •  
PROPERTY LISTING DETAILS
Kim Rievley
Re/max Partners
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21029784
Last Updated: 02/12/2021
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