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2805 Amber Drive Corona, CA 92882

4 Beds 3 Baths 2,314 sqft Built 1989

$699,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $302.07
  • 5 Days on Market
  • MLS # : PW21034239
  • Updated Date : 02/26/2021 at 17:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,314 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

On a large corner lot in the Sierra Del Oro community just off Green River Rd, this beautiful home offers plenty of space for everyone. Featuring a brick walkway, open grass area, 3-car garage, and a double door entry, this home boasts a very welcoming curb appeal. Entering the house, you will love the high ceilings and open space throughout. A large living room to your right is a great place to relax and catch up with family or guests. A formal dining room, right off the kitchen looks out to the beautiful backyard pool through plantation shutters. A renovated kitchen, featuring stainless steel appliances, gray cabinetry, and ample Corian countertop space, will be the envy of all who step inside. After dinner, gather around the warm brick fireplace in the family room and enjoy a beautiful evening in this calm and serene atmosphere. A downstairs bedroom is great to use as a home office or for guests/parents and has a corresponding full bathroom. Upstairs, you will find the master retreat, which showcases a large bathroom with walk-in shower, free-standing soaking tub, dual vanities, and a large walk-in closet. Two accessory bedrooms are of great size for children or guests, and a corresponding hall bathroom finishes the upstairs. You are bound to spend time in the beautiful backyard, which boasts a swimming pool, BBQ area, and large covered seating space. Situated in a spectacular location, just one exit from Yorba Linda, this home is what you have been searching for.

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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: 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
 

$629,100$768,900$699,000

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 -$2,428
Property Tax -$760
Property Insurance -$83
Property Management Fees -$177
CASH FLOW
-$449

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.

$699,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.43%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,729

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
  • $1.3

    LIST RENT PER SQFT
  • $2,621

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,7003$2,8504$2,8505$3,000
$3,000
RENT COMPS ANALYSIS
  • 2805 Amber Drive Corona, CA 5
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.30
    •  
  • 2330 Bloomfield Lane Corona, CA 1
    • 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1989
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.17
    •  
  • 3355 Deaver Drive Corona, CA 2
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1988
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.14
    •  
  • 2881 Juniper Dr Corona, CA 3
    • 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 1990 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 1990
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.11
    •  
  • 2985 Amber Drive Corona, CA 4
    • 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 1990
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.11
    •  
PROPERTY LISTING DETAILS
Kathy Leimkuhler
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21034239
Last Updated: 02/26/2021
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