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2841 Athens Circle Corona, CA 92882

4 Beds 3 Baths 2,605 sqft Built 1994

$680,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $261.04
  • 3 Days on Market
  • MLS # : IV21018830
  • Updated Date : 01/29/2021 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,605 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coleman Realty Group

Listing Agent's Description

NO HOA!!! NO MELLO ROOS!! LOW TAXES!! Home located in beautiful South Corona. Great Location. One of the most sought-after neighborhoods in Corona! 4 Bedrooms plus Large Bonus Room. 2.5 Baths. 2605 Square Feet. Enjoy a Formal Dining Room, Living Room and Den. Porcelain Tile Flooring throughout the main floor. Kitchen with huge Island and Granite Counter tops. Ceiling Fans in every room. Living room boasts a cozy Fireplace in family room for those cold day. Shutters. Spacious Master Bedroom with Walk-in Closet, Dual Vanities, Tiled Tub and Separate Shower Stall! Permitted Loft / Bonus Room added to second floor ideal for classroom setting can also be used for as an office, playroom, gym, media room, or game room. Permitted balcony added to the second floor with great views of the mountain. Backyard has built-in fireplace perfect for family and friends gathering. Nestled in a Gorgeous Cul-de-Sac and Close to the 15 and 91 Freeway. Close to Parks and Schools. Easy access to Shopping & Dining. Hurry wouldn’t last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Corona High School High Regular 2,933 110 5
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

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

Corona High School

  • Education Level: High
  • # of students: 2,933
  • # of teachers: 110
5
GreatSchools Rating

Citrus Hills Intermediate School

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

$612,000$748,000$680,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,362
Property Tax -$734
Property Insurance -$90
Property Management Fees -$158
CASH FLOW
-$673

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.

$680,000

PROJECTED PRICE

$2,670

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,657

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,6704$2,7855$2,850
$2,850
RENT COMPS ANALYSIS
  • 2841 Athens Circle Corona, CA 3
    • 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,605 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.02
    •  
  • 2976 Stonewall Drive Corona, CA 1
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1998
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 1375 Wigeon Drive Corona, CA 2
    • 4 beds 2 baths ∙ 2,532 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,532 Sqft ∙ Built 2002
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.05
    •  
  • 1263 Strawcross Lane Corona, CA 4
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2005
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,785
    • $1.03
    •  
  • 2868 Briarhaven Lane Corona, CA 5
    • 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 1997
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Michelle Frank
Coleman Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21018830
Last Updated: 01/29/2021
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