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3421 Eagle Crest Drive Corona, CA 92881

3 Beds 2 Baths 2,108 sqft Built 1997

$649,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $307.87
  • 13 Days on Market
  • MLS # : PW20236922
  • Updated Date : 11/17/2020 at 09:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,108 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Welcome to your beautiful single story with incredible curb appeal! Located in the Chase Ranch community is this meticulously landscaped home with mature trees and a 3 car garage. As soon as you enter this 2100 sq. ft. home you will immediately notice the arched entryways, voluminous ceilings and ceiling fans throughout. This home has a total of 3 bedrooms, 2 bathrooms, plus den. The open concept kitchen features a skylight, an island and ample counter space. There are light wood floors with plenty of storage in the family area and a beautiful fireplace. The master bedroom has a walk in closet and a master bath with a sunken tub. Outdoors is large back yard with a lovely covered patio, ample grass yard, and large shade trees to enjoy. Hurry, this one wont last! Please note: The property currently has tenants in it. The photos are prior to them moving in.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,395
Property Tax -$708
Property Insurance -$78
Property Management Fees -$153
CASH FLOW
-$743

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.

$649,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.40%

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-$15k-$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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,698

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5904$2,5955$2,990
$2,990
RENT COMPS ANALYSIS
  • 3421 Eagle Crest Drive Corona, CA 3
    • 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.23
    •  
  • 3446 Evening Star Circle Corona, CA 1
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.25
    •  
  • 1067 Viewpointe Corona, CA 2
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1998
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.27
    •  
  • 850 Sugar Maple Lane Corona, CA 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1994
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.18
    •  
  • 3313 Heatherbrook Circle Corona, CA 5
    • 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 1996
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.42
    •  
PROPERTY LISTING DETAILS
Robert Kruger
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20236922
Last Updated: 11/17/2020
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