Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

333 W Francis Street Corona, CA 92882

3 Beds 2 Baths 1,080 sqft Built 1971

INVESTimate

$484,900

List Price

$1,860

$1,674 - $2,046

Rent Est.

$521,268  ( +7.50%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $448.98
  • 2 Days on Market
  • MLS # : IG20174613
  • Updated Date : 08/25/2020 at 15:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 2 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

Amazing Mid-Century-Modern home and everything is NEW! Open your custom front door and walk into your forever home that’s ready for you to move-in. It’s drenched in recessed and pendent lighting throughout the interior and exterior. This completely-renovated home has its own gourmet kitchen that will inspire your inner chef with new cabinets accented by custom quarts’ counters that harmonize beautifully a modern apron-front sink, stylish backsplash, a posh chef’s oven, stunning center island with seating, a generous pantry, and sophisticated stainless steel appliances. The bathrooms are equally stunning with matching quarts that bring a pleasant flow to the home’s open floorplan. Both designer bathrooms feature edgeless shower enclosures, stunning lighted enclaves and opulent tile. And of course, all new vanities, sinks, faucets, toilets, mirrors, and lighting. The lustrous flooring is perfectly accented by charming base-moldings throughout the home. Consistent with the furnishings, the central AC and heating are new as are all the home’s windows, interior doors, garage door, French doors that lead to the back porch and spacious back yard. The back yard is ready for any and all your plans and even supply plenty of RV parking for all your toys. New central AC and heating will keep your family comfortable and happy too. New stainless appliances, new windows throughout. There’s new flooring interior and exterior paint with new sod and sprinkler system.

SEE MORE

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: Central Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Central Corona

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
Jefferson Elementary School Primary Regular 839 30 5
Corona Fundamental Intermediate School Middle Regular 1,138 38 6
Corona High School High Regular 2,933 110 5

Jefferson Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 30
5
GreatSchools Rating

Corona Fundamental Intermediate School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 38
6
GreatSchools Rating

Corona High School

  • Education Level: High
  • # of students: 2,933
  • # of teachers: 110
5
GreatSchools Rating
 

$436,410$533,390$484,900

PURCHASE PRICE

$1,674$2,046$1,860

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,789
Property Tax -$459
Property Insurance -$53
Property Management Fees -$110
CASH FLOW
-$551

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.

$484,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.50%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $1,685

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,9253$1,9504$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 333 W Francis Street Corona, 1
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.72
    •  
  • 349 E Rancho Road Corona, 2
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1959
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.51
    •  
  • 1052 W 10th Street Corona, 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1956
    LEASED 04/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.56
    •  
  • 1324 Camelot Drive Corona, 4
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.58
    •  
  • 323 E Rancho Road Corona, 5
    • 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1962
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.59
    •  
PROPERTY LISTING DETAILS
Nick Manfredi
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20174613
Last Updated: 08/25/2020
BESbswy