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27447 Fallbrook Court Corona, CA 92883

4 Beds 3 Baths 1,948 sqft Built 2000

$568,990

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $292.09
  • 6 Days on Market
  • MLS # : IG21038157
  • Updated Date : 02/25/2021 at 12:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,948 sqft
  • Baths : 3 full
Listing Agent

Better Homes Of Southern California

Listing Agent's Description

FAMILY IS #1 Sheltered by the Cleveland National Forest is Horsethief Canyon Ranch, offering something for everyone. The climate of this neighborhood is FAMILY IS #! Beautiful Corner lot home with curb appeal invites you to come on in. This lovely home features 4 bedrooms and 3 bathrooms. The formal living and dining room greets you as you enter the home. The family kitchen is open to the family room with plenty of windows that overlook the large backyard. The Master bedroom has a master bath and walk-in closet. It’s a plus to have a bedroom downstairs. There are two good-sized secondary bedrooms upstairs. There are upgrades and perks throughout the home. RV parking and extra-large driveway along with the 3 bay garage. Horsethief Canyon has the feeling of a close-knit community and safe environment that is perfect for families to raise their children or to enjoy your retirement years. Its location remains a popular place for sports enthusiasts, mountain bikers, hikers, and people who choose to live outside of the city. As part of the Home Owners Association residents have access to the clubhouse, pools, sports fields, tennis, volleyball, and basketball courts.

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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
Temescal Canyon High School High Regular 2,172 89 7

Temescal Canyon High School

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

$512,091$625,889$568,990

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,976
Property Tax -$500
Property Insurance -$74
HOA -$85
Property Management Fees -$140
CASH FLOW
-$406

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.

$568,990

PROJECTED PRICE

$2,370

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,532

INVESTMENT

$156,532

Down Payment
$142,248
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,248
Loan Amount $426,743
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,562

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3703$2,4004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 27447 Fallbrook Court Corona, CA 2
    • 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.22
    •  
  • 27437 Coyote Mesa Drive Corona, CA 1
    • 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2002
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.21
    •  
  • 27292 Eagles Nest Drive Corona, CA 3
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1998
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.33
    •  
  • 27566 Bunkerhill Drive Corona, CA 4
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1999
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.33
    •  
  • 13393 Indian Bow Circle Corona, CA 5
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1998
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.39
    •  
PROPERTY LISTING DETAILS
Donna Richards
Better Homes Of Southern California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21038157
Last Updated: 02/25/2021
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