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3537 Matisse Circle Corona, CA 92882

3 Beds 2 Baths 1,665 sqft Built 1997

$579,900

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $348.29
  • 6 Days on Market
  • MLS # : CV21040856
  • Updated Date : 02/26/2021 at 17:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,665 sqft
  • Baths : 2 full
Listing Agent

Corcoran Global Living

SEE MORE

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: South Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k712k

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

Neighborhood: South Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822894

* 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
 

$521,910$637,890$579,900

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,014
Property Tax -$693
Property Insurance -$68
HOA -$60
Property Management Fees -$144
CASH FLOW
-$539

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.

$579,900

PROJECTED PRICE

$2,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,577

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,4003$2,4404$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 3537 Matisse Circle Corona, CA 3
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.47
    •  
  • 762 Saint James Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 1998
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.53
    •  
  • 578 Pointe Vista Court Corona, CA 2
    • 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1997
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.60
    •  
  • 711 Viewpointe Lane Corona, CA 4
    • 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 1994
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.50
    •  
  • 3417 Ellesmere Drive Corona, CA 5
    • 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 1995
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.56
    •  
PROPERTY LISTING DETAILS
Edwinantonio Coreas
Corcoran Global Living
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21040856
Last Updated: 02/26/2021
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