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3020 Pansy Circle Corona, CA 92881

4 Beds 2 Baths 1,662 sqft Built 1997

$650,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $391.10
  • 4 Days on Market
  • MLS # : IG21043411
  • Updated Date : 03/04/2021 at 14:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,662 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Welcome to this piece of paradise in the perfectly located city of Corona. This property screams pride of ownership with an eye stunning curb appeal. Upgrades include - Recessed can lights throughout house and garage, Crown molding and baseboard upgraded throughout the house. Shutters throughout house, Kitchen counter to Granite, Kitchen backsplash, Remodel kitchen cabinets, Stainless steel appliances, Laminated flooring, Master bath Granite countertop, Master bath Tiled shower walls, Remodel master bath cabinets & Shower doors. Tiled master bath floor, Upgrade master bath fixtures, Guest bath Granite countertop, Guest bath Tiled shower walls, Guest bath new cabinets, Guest bath tiled floor, Upgrade to guest bath fixtures, Shower doors, Walk in closet in all the bedrooms have been upgraded and customized. Bonus room in the garage. Drive way upgraded, Covered patio New Vinyl fencing in the backyard. Walk in attic in garage, Synthetic grass in back yard. Back yard and front yard completely landscaped with artificial grass & beautiful plants. Located close to parks, schools & shopping. This property is a complete must see, Come quick this property in this area will not last long.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Corona Vista

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k730k

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

Neighborhood: Corona Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822882

* 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
Santiago High School High Regular 3,692 129 8
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

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

Santiago High School

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

Citrus Hills Intermediate School

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

$585,000$715,000$650,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,258
Property Tax -$709
Property Insurance -$67
Property Management Fees -$147
CASH FLOW
-$691

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.

$650,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 3.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,281

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,4004$2,4905$2,600
$2,600
RENT COMPS ANALYSIS
  • 3020 Pansy Circle Corona, CA 4
    • 4 beds 2 baths ∙ 1,662 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,662 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.50
    •  
  • 1088 Viewpointe Lane Corona, CA 1
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.34
    •  
  • 1030 Morning Sun Lane Corona, CA 2
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 1036 Sunbeam Lane Corona, CA 3
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 1997
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
  • 511 Shasta Drive Corona, CA 5
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2000
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.41
    •  
PROPERTY LISTING DETAILS
Jonathan Ybarra
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21043411
Last Updated: 03/04/2021
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