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3771 Windsong Street Corona, CA 92879

4 Beds 2 Baths 1,277 sqft Built 1964

$485,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $379.80
  • 6 Days on Market
  • MLS # : IG20263831
  • Updated Date : 01/02/2021 at 10:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,277 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

TURNKEY! Beautiful single-story home, located on a spacious tree lined street. From the moment you pull up you will love this delightful home. As you walk up, notice the expansive front yard, landscaped with palm trees. You'll enjoy the sunny and bright living room, with new, beautiful flooring throughout. With a dining room area this home is perfect for entertaining. The wonderful kitchen features beautifully upgraded granite countertops, newly painted cabinets and stainless steel appliances. Featuring an open concept floor plan, the kitchen opens up to the generous living room. 4 large bedrooms complete this fantastic floorplan. This well-appointed home also features 2 full bathrooms, both recently upgraded, new flooring throughout, fresh paint and motion detecting security lights installed throughout. The living room offers lovely sliding doors leading out to the yard, featuring an alumiwood patio cover. The yard is an entertainers dream, with a large backyard, hardscape and lush landscaping. With a large 2 car garage, there is plenty of room for all your toys! This home is close to the 91 and 15 freeways. Just minutes from Orange County and next to the Cleveland National Forest with an abundance of hiking trails. This beauty is located minutes from sports parks, shopping, dog parks, and running trails. NO HOA and LOW TAXES! Don't miss out on this uncommon opportunity! Check out the tour! http://bit.ly/3771Wingsong

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Home Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $116k627k

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

Neighborhood: Home Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9112579

* 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
Home Gardens Academy Primary Regular 905 33 5
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Santiago High School High Regular 3,692 129 8

Home Gardens Academy

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 33
5
GreatSchools Rating

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
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,789
Property Tax -$462
Property Insurance -$58
Property Management Fees -$139
CASH FLOW
-$89

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.

$485,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$27,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $2,299

    COMP ESTIMATED VALUE
  • $1.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,360
$2,360
RENT COMPS ANALYSIS
  • 3771 Windsong Street Corona, CA 3
    • 4 beds 2 baths ∙ 1,277 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,277 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.85
    •  
  • 3570 Candlewood Street Corona, CA 1
    • 5 beds 2 baths ∙ 1,358 Sqft ∙ Built 1968 5 beds 2 baths ∙ 1,358 Sqft ∙ Built 1968
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.58
    •  
  • 13173 Harlow Avenue Corona, CA 2
    • 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,088 Sqft ∙ Built 1965
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.02
    •  
PROPERTY LISTING DETAILS
Diana Renee
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20263831
Last Updated: 01/02/2021
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