Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2879 La Vista Avenue Corona, CA 92879

4 Beds 3 Baths 1,797 sqft Built 1988

$589,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $328.27
  • 2 Days on Market
  • MLS # : IG21025410
  • Updated Date : 02/06/2021 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,797 sqft
  • Baths : 2 full , 1 half
Listing Agent

Barnett Realty

Listing Agent's Description

Corona Hills Area! Big 1/4 Acre Lot with Long Driveway for lots of parking and cars, This home shows very nice and has been fully remodeled and upgraded. The 4th Bedroom is an open room to Master bedroom used as a Retreat, Remodeled Kitchen with Newer White Cabinets, Granit Countertops, Stainless Steel Kitchen Aid Appliances including Fridge. Remodeled Kitchen and Bathroom Lights. All Bathrooms are remodeled with white cabinets, sinks, faucets and tile. Upgraded Tile throughout, Upgraded Wood Laminate floors in Formal Living, Formal Dining and Family Room. Fireplace in Family Room. Master Bedroom has Big Walk in Closet, Tub/Shower Enclosure with dual sinks. Big Window with Seat, Vaulted Ceilings in Masterbedroom, All newer paneled doors and hardware throughout home, newer 5 inch baseboards through home. New AC and Heating Unit Installed one year ago. All Newer Light Fixtures through home, paneled doors, 3 Closets are remodeled from Closet World. Alumiwood Covered, Cement in backyard for low maintenance, Rain Gutters, Slope is Newly Landscaped, Fridge, Washer & Dryer included. Buyer to receive a $2,000.00 credit for replacement of wrought iron Fence on right side of slope. BBQ and All Patio Furniture included in sale.

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: Corona Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Corona Hills

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
Promenade Elementary School Primary Regular 644 25 8
Villegas Middle School Middle Regular 1,356 53 5
Hillcrest High School High Unknown 1,353 53 NA

Promenade Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 25
8
GreatSchools Rating

Villegas Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 53
5
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 53
NA
GreatSchools Rating
 

$530,910$648,890$589,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,049
Property Tax -$594
Property Insurance -$71
Property Management Fees -$136
CASH FLOW
-$549

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.

$589,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.3%
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$162,074

INVESTMENT

$162,074

Down Payment
$147,475
Rehab Estimate
$5,750
Closing Costs
$8,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,475
Loan Amount $442,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,318

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2879 La Vista Avenue Corona, CA 2
    • 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,797 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.28
    •  
  • 2241 Indigo Hills Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 1995
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.28
    •  
  • 2900 Coventry Circle Corona, CA 3
    • 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1989
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 2972 Astoria Circle Corona, CA 4
    • 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 1992
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.27
    •  
  • 2958 Rochester Circle Corona, CA 5
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1989
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.34
    •  
PROPERTY LISTING DETAILS
Joyce Barnett
Barnett Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21025410
Last Updated: 02/06/2021
BESbswy