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300 Exeter Way Corona, CA 92882

4 Beds 3 Baths 1,806 sqft Built 1998

INVESTimate

$560,000

List Price

$2,460

$2,214 - $2,706

Rent Est.

$589,232  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $310.08
  • 6 Days on Market
  • MLS # : IG20165767
  • Updated Date : 08/22/2020 at 08:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,806 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

STUNNING CORONA HOME~The PERFECT house to call HOME! Your guests will be blown away upon entry but the vaulted ceilings and beautiful tile flooring welcoming them into a feast for the eyes! Every detail was thought of in the ALL NEW Kitchen...Stainless Steel GE Profile Appliances, all New Cabinetry,Granite Countertops,Double Oven,FarmHouse Sink and a view of the backyard. The recessed lighting and under cabinet lighting harmonize to create the best atmosphere for family time or entertaining guests. The Living Room features a beautiful fireplace showcased in a custom hearth & mantle. Tinted windows on the South & West side of the house to keep it cool while still letting in sunlight.All of the bedrooms are generous in size and all located the 2nd floor.The Master Bathroom is stylish with new tile flooring & refinished cabinetry.All new landscaping in the backyard make it the perfect area for the kids to play or just enjoy a nice evening under the shaded patio while twinkling white lights set the mood.The community features a pool perfect for HOT summer days, it's close to award winning schools & convenient shopping. It has been well maintained & upgraded featuring designer colors & finishes that all compliment each other to make this home SHINE! You'll be able to keep your electricity bill in check with the Solar System...the heat is no match for the solar system and tinted windows! Be sure to check out the 3D Virtual Tour https://my.matterport.com/show/?m=LkHEnmTfQVG&brand=0

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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: 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
Eisenhower Elementary School Primary Regular 920 33 9
Eisenhower Elementary School Middle Regular 920 33 9
Santiago High School High Regular 3,692 129 8

Eisenhower Elementary School

  • Education Level: Primary
  • # of students: 920
  • # of teachers: 33
9
GreatSchools Rating

Eisenhower Elementary School

  • Education Level: Middle
  • # of students: 920
  • # of teachers: 33
9
GreatSchools Rating

Santiago High School

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

$504,000$616,000$560,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,066
Property Tax -$680
Property Insurance -$71
HOA -$95
Property Management Fees -$145
CASH FLOW
-$597

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.

$560,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $2,542

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,4504$2,4605$3,000
$3,000
RENT COMPS ANALYSIS
  • 300 Exeter Way Corona, 4
    • 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.36
    •  
  • 1030 Morning Sun Lane Corona, 1
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 240 Jessica Lane Corona, 2
    • 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 1999
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.38
    •  
  • 328 Roxanne Lane Corona, 3
    • 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 2000
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.38
    •  
  • 3258 Camden Lane Corona, 5
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1997
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.50
    •  
PROPERTY LISTING DETAILS
Julia Calderon
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20165767
Last Updated: 08/22/2020
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