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2880 Hudson Avenue Corona, CA 92881

4 Beds 3 Baths 2,273 sqft Built 1963

$755,000

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $332.16
  • 12 Days on Market
  • MLS # : SW20264225
  • Updated Date : 01/09/2021 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,273 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

Custom built inground pool and spa home, location ! Location ! Amberhill Estates and is surrounded by Million $ custom built estate homes. The home is basically a one level home with the kitchen and all bedrooms on the main level. There is a bonus room up a short flight of stairs and the a cozy living room with fireplace 1 level down from the kitchen. A slider from the kitchen takes you to the patio and inground spa that overlooks the large swimming pool ( Both have just been re plastered ) Fruit trees are a feature of the large rear yard. The over 1/3rd of an acre lot features a front circular driveway offering multi vehicle parking plus a detached 2 car garage. Home is seriously for sale offers please.

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: 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
Susan B. Anthony Elementary School Primary Regular 938 32 9
Susan B. Anthony Elementary School Middle Regular 938 32 9
Santiago High School High Regular 3,692 129 8

Susan B. Anthony Elementary School

  • Education Level: Primary
  • # of students: 938
  • # of teachers: 32
9
GreatSchools Rating

Susan B. Anthony Elementary School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 32
9
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 3,692
  • # of teachers: 129
8
GreatSchools Rating
 

$679,500$830,500$755,000

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$2,622
Property Tax -$713
Property Insurance -$82
Property Management Fees -$176
CASH FLOW
-$613

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.

$755,000

PROJECTED PRICE

$2,980

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$205,825

INVESTMENT

$205,825

Down Payment
$188,750
Rehab Estimate
$5,750
Closing Costs
$11,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $188,750
Loan Amount $566,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,576

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,6504$2,980
$2,980
RENT COMPS ANALYSIS
  • 2880 Hudson Avenue Corona, CA 4
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.31
    •  
  • 524 Greengate Street Corona, CA 1
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 1965
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 7291 Liberty Avenue Corona, CA 2
    • 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 1977
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.14
    •  
  • 1577 Marshall Lane Corona, CA 3
    • 5 beds 4 baths ∙ 2,318 Sqft ∙ Built 1981 5 beds 4 baths ∙ 2,318 Sqft ∙ Built 1981
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.14
    •  
PROPERTY LISTING DETAILS
Michael Chaffey
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20264225
Last Updated: 01/09/2021
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