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

3559 Belvedere Circle Corona, CA 92882

4 Beds 2 Baths 2,317 sqft Built 1996

INVESTimate

$690,000

List Price

$2,700

$2,450 - $2,950

Rent Est.

$726,018  ( +5.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $297.80
  • 7 Days on Market
  • MLS # : IV20171277
  • Updated Date : 08/23/2020 at 10:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,317 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Beautiful home located in the highly desired Mountain Gate community; this is one you won’t want to miss! Need somewhere to escape the heat? Walk into your backyard oasis with a beautiful saltwater pool, jacuzzi and custom-built gazebo complete with a BBQ and fire pit, perfect for entertaining. This well-maintained single-story home is located on a quiet cul-de-sac, with beautiful mountain views and privacy of your backyard being backed up to a greenbelt. Gorgeous turnkey home features 4 bedrooms, 2 bathrooms and a 3-car garage. You will see pride of ownership with the extensive upgrades the owners have done to include a recently renovated master bathroom with large walk-in shower, customer built stone fireplace, and so much more! Nearby shopping, restaurants, and the 91/15 freeways. This home won’t last long, book your appointment and schedule a showing today!

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: 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
Eisenhower Elementary School Primary Regular 920 33 9
Eisenhower Elementary School Middle Regular 920 33 9
Santiago High School High Regular 3,692 129 8

Eisenhower Elementary School

  • Education Level: Primary
  • # of students: 920
  • # of teachers: 33
9
GreatSchools Rating

Eisenhower Elementary School

  • Education Level: Middle
  • # of students: 920
  • # of teachers: 33
9
GreatSchools Rating

Santiago High School

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

$621,000$759,000$690,000

PURCHASE PRICE

$2,430$2,970$2,700

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,546
Property Tax -$825
Property Insurance -$83
Property Management Fees -$159
CASH FLOW
-$913

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.

$690,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,746

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6953$2,7004$2,8505$3,200
$3,200
RENT COMPS ANALYSIS
  • 3559 Belvedere Circle Corona, 3
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.17
    •  
  • 231 Roxanne Lane Corona, 1
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 2001
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 2968 Lombardy Lane Corona, 2
    • 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 2001
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.22
    •  
  • 2993 Bavaria Drive Corona, 4
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1998
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.15
    •  
  • 558 Rembrandt Drive Corona, 5
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1996
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Ciera Sims-botsford
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20171277
Last Updated: 08/23/2020
BESbswy