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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chase Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$175,350
LOAN DETAILS
$2,361
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $160,000 |
| Loan Amount | $480,000 |
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
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1088 Viewpointe Lane Corona, CA 1
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- $2,350
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LEASED 02/09/20- Rent
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- $2,400
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-
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
Premier Realty Group Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20254791
Last Updated: 12/12/2020
