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

4166 Horvath Street #106 Corona, CA 92883

3 Beds 3 Baths 1,626 sqft Built 2019

$499,500

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $307.20
  • 3 Days on Market
  • MLS # : EV21057726
  • Updated Date : 03/20/2021 at 11:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,626 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Victor Valley

Listing Agent's Description

THERES NO PLACE LIKE HOME! THIS ONE WON'T LAST...GORGEOUS CONDO PART OF THE BEDFORD COMMUNITY IN THE PARSON NEIGHBORHOOD. Come take a look for yourself at this spacious 1626 sqft 3bed/2.5 bath with attached garage, indoor laundry, fully landscaped practically brand new home built in 2019. First showing on 3/29/21 by appointment only 10-2pm.

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: The Retreat

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000k1100kPrice in $149k1150k

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

Neighborhood: The Retreat

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800300032003400Rent in $10823573

* 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
El Cerrito Middle School Middle Regular 1,256 43 8
Centennial High School High Regular 3,306 119 8
El Cerrito Middle School Middle Unknown NA

El Cerrito Middle School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 43
8
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,306
  • # of teachers: 119
8
GreatSchools Rating

El Cerrito Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$449,550$549,450$499,500

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,735
Property Tax -$489
Property Insurance -$67
HOA -$231
Property Management Fees -$115
CASH FLOW
-$687

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.

$499,500

PROJECTED PRICE

$1,950

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,735

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$50

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2003$2,3004$2,300
$2,300
RENT COMPS ANALYSIS
  • 4166 Horvath Street Corona, CA 1
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.20
    •  
  • 4313 Owens Street Corona, CA 2
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2006
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.18
    •  
  • 3963 Camelback Circle Corona, CA 3
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 1999
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
  • 4453 Owens Street Corona, CA 4
    • 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 2007
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.26
    •  
PROPERTY LISTING DETAILS
Kristine Hazelbaker
Keller Williams Victor Valley
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV21057726
Last Updated: 03/20/2021
BESbswy