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27500 Coyote Mesa Drive Corona, CA 92883

4 Beds 3 Baths 2,274 sqft Built 2002

INVESTimate

$505,000

List Price

$2,340

$2,106 - $2,574

Rent Est.

$536,310  ( +6.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $222.08
  • 2 Days on Market
  • MLS # : IG20174626
  • Updated Date : 08/25/2020 at 13:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,274 sqft
  • Baths : 3 full
Listing Agent

Provident Real Estate

Listing Agent's Description

Turnkey mountain view home in the beautiful community of Horsethief Canyon Ranch. This desired floor plan features 4 bedrooms and 3 full bathrooms! The master bedroom is located on the first floor in addition to another bedroom and full bathroom, ideal for overnight guests. Wood flooring installed throughout all main living areas offering a uniform flow. The kitchen opens up to the family room and boasts a large island with additional seating and plenty of cabinets for all of your storage and organizational needs. The master bedroom showcases a spacious en-suite with dual sinks, soaking tub, walk-in shower and closet! Upstairs you will find two additional bedrooms with a shared Jack-and-Jill bathroom. Horsethief Canyon is the perfect community to raise your family. There are two olympic-sized community pools, tennis courts, sand volleyball court, basketball courts, soccer and baseball fields, walking paths, clubhouse, gym as well as regular HOA sponsored activities. Close to shopping and freeways, Horsethief has Luiseno K-8 school right on site. Best of all there are no Mello Roos, so taxes are among the lowest in the area! Estimated tax rate is 1.1%! Do not miss out on this opportunity, schedule your private showing 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
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,106$2,574$2,340

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 $2,340
EXPENSES Loan Payment -$1,863
Property Tax -$444
Property Insurance -$82
HOA -$85
Property Management Fees -$138
CASH FLOW
-$273

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.

$505,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.46%

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$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$15,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,456

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3403$2,4004$2,4005$2,475
$2,475
RENT COMPS ANALYSIS
  • 27500 Coyote Mesa Drive Corona, 2
    • 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.03
    •  
  • 27410 Barcelona Drive Corona, 1
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.02
    •  
  • 27481 Pacos Corona, 3
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.06
    •  
  • 13865 Buckskin Trails Drive Corona, 4
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2002
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 13710 Desert Ridge Corona, 5
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2000
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.14
    •  
PROPERTY LISTING DETAILS
Nazar Kalayji
Provident Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20174626
Last Updated: 08/25/2020
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