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3327 Willow Park Circle Corona, CA 92881

4 Beds 3 Baths 2,023 sqft Built 1996

$640,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $316.36
  • 5 Days on Market
  • MLS # : IV20254791
  • Updated Date : 12/12/2020 at 12:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,023 sqft
  • Baths : 3 full
Listing Agent

Premier Realty Group Services

Listing Agent's Description

Beautiful Chase Ranch home located on a tree-lined Cul-de-Sac. Great floor plan with 4 bedrooms, 3 bathrooms and 2,108 of open living space. Freshly painted inside and out. New Carpet. The kitchen has a great usable working area with granite counter, granite island, lovely backsplash and a pot filler! A spacious living room with vaulted cathedral ceilings greets you upon entering the home. The family room has a wonderful fireplace for everyone to gather around and connects into the dining room. The dining room has lovely natural lighting, wainscoting, and hardwood floors. The downstairs bedroom is perfect for guests or can be made into an office. Upstairs, you’ll find a spacious primary bedroom & bathroom with a great walk-in closet. The 2 other bedrooms upstairs have new closet mirror doors with plenty of closet space. New wood-like tile floors have been installed in the upstairs bathrooms. The 3-car garage has new epoxy flooring and loads of storage area. The solar heated pool and spa was recently resurfaced and retiled. The water heater, HVAC, and pool equipment have been replaced within the last year. The home has a wireless light system – Smart Homes with Insteon switches so you can control multiple lighting areas throughout the home from a central location. Feel secure with a fully installed Vivint alarm system as well. Located near award-winning schools, parks & shopping! Low taxes, NO MELLO ROOS OR HOA. More than you could have asked for in a home!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chase Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k732k

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

Neighborhood: Chase Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822931

* 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
Orange Elementary School Primary Regular 789 28 7
Orange Elementary School Middle Regular 789 28 7
Santiago High School High Regular 3,692 129 8

Orange Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 28
7
GreatSchools Rating

Orange Elementary School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 28
7
GreatSchools Rating

Santiago High School

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

$576,000$704,000$640,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,361
Property Tax -$698
Property Insurance -$76
Property Management Fees -$155
CASH FLOW
-$661

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.

$640,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.6%
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$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,736

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5954$2,6305$2,990
$2,990
RENT COMPS ANALYSIS
  • 3327 Willow Park Circle Corona, CA 4
    • 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.30
    •  
  • 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
    •  
  • 1067 Viewpointe Corona, CA 2
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 1859 Marquez Way Corona, CA 3
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2016
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.38
    •  
  • 3313 Heatherbrook Circle Corona, CA 5
    • 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 1996
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.42
    •  
PROPERTY LISTING DETAILS
Pamela Sheehan
Premier Realty Group Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20254791
Last Updated: 12/12/2020
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