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27138 Adelanto Drive Corona, CA 92883

4 Beds 3 Baths 2,363 sqft Built 1998

INVESTimate

$499,999

List Price

$2,360

$2,124 - $2,596

Rent Est.

$530,999  ( +6.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $211.60
  • 5 Days on Market
  • MLS # : OC20172382
  • Updated Date : 08/22/2020 at 05:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,363 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bankers Investment Group Inc.

Listing Agent's Description

Welcome to this beauty in the Horse Thief Canyon community. As you walk in you are welcomed to vaulted ceilings in the formal living/dinning room. The kitchen is open, modern with quartz counter tops and the family room flows right next to it. You have one full bath and bedroom downstairs, perfect for the growing family or an extra room for the in laws. You have a three car garage with fourth tandem space. Back yard is wide, spacious and has a ton of potential. Close to a major freeway. minutes to schools, new shopping centers , hiking trails and Cleveland National Forest. Don't let this one slip away, come make it yours today.

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: Horsethief Canyon Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Horsethief Canyon Ranch

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
Luiseno Elementary School Primary Regular 1,042 42 4
Luiseno Elementary School Middle Regular 1,042 42 4
Temescal Canyon High School High Regular 2,172 89 7

Luiseno Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 42
4
GreatSchools Rating

Luiseno Elementary School

  • Education Level: Middle
  • # of students: 1,042
  • # of teachers: 42
4
GreatSchools Rating

Temescal Canyon High School

  • Education Level: High
  • # of students: 2,172
  • # of teachers: 89
7
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,845
Property Tax -$440
Property Insurance -$84
HOA -$85
Property Management Fees -$139
CASH FLOW
-$233

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.

$499,999

PROJECTED PRICE

$2,360

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.20%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$17,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3603$2,4004$2,4755$2,700
$2,700
RENT COMPS ANALYSIS
  • 27138 Adelanto Drive Corona, 2
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.00
    •  
  • 27410 Barcelona Drive Corona, 1
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.02
    •  
  • 13865 Buckskin Trails Drive Corona, 3
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2002
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 13710 Desert Ridge Corona, 4
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2000
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.14
    •  
  • 13333 Goldenhorn Drive Corona, 5
    • 5 beds 3 baths ∙ 2,496 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,496 Sqft ∙ Built 2001
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.08
    •  
PROPERTY LISTING DETAILS
Raul Vega
Bankers Investment Group Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20172382
Last Updated: 08/22/2020
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