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2929 Villa Catalonia Circle Corona, CA 92881

3 Beds 3 Baths 1,807 sqft Built 2017

$520,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $287.77
  • 8 Days on Market
  • MLS # : IG20230294
  • Updated Date : 11/05/2020 at 12:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 2929 Villa Catalonia is now for sale! Don’t miss this chance to live in this stunning new gated community. This three bedroom, two and a half bath home has just over 1,800 square feet of well utilized space and is only a few years old. Downstairs, buyers will love the large great room that combines the family room, kitchen and dining room into one open concept space. The floors are beautifully upgraded with wood tile and the kitchen features dark wood cabinets and granite countertops as well as a large storage closet under the stairs. The master bedroom is spacious and features a lovely attached bathroom and a spacious closet. Laundry room is located up stairs. The low maintenance backyard has been finished with vinyl fencing, pavers, and artificial turf. The 2 car garage has been enhanced with epoxy flooring.The community features a great swimming pool and playground area. Close to plenty of shopping and award winning schools as well as easy access to the 15 freeway.

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: El Cerrito

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: El Cerrito

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
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
 

$468,000$572,000$520,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,919
Property Tax -$535
Property Insurance -$71
HOA -$150
Property Management Fees -$149
CASH FLOW
-$294

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.

$520,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$13,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,534

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4953$2,5004$2,5305$2,595
$2,595
RENT COMPS ANALYSIS
  • 2929 Villa Catalonia Circle Corona, CA 4
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.40
    •  
  • 4054 Castle Pines Way Corona, CA 1
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1999
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.41
    •  
  • 2871 Menorca Circle Corona, CA 2
    • 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,718 Sqft ∙ Built 2016
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.45
    •  
  • 1426 White Holly Drive Corona, CA 3
    • 4 beds 3 baths ∙ 1,822 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,822 Sqft ∙ Built 1997
    property image
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.37
    •  
  • 1859 Marquez Way Corona, CA 5
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2016
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.38
    •  
PROPERTY LISTING DETAILS
Charles Chacon
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20230294
Last Updated: 11/05/2020
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