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4270 Horvath #105 Corona, CA 92883

3 Beds 3 Baths 1,350 sqft Built 2019

$489,900

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $362.89
  • 6 Days on Market
  • MLS # : OC21149038
  • Updated Date : 07/13/2021 at 10:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

We have an amazing 2 year old home in the beautiful gated community of Citron in the master planned community of Bedford in South Corona. This home has every conceivable upgrade imaginable from the wide-open floorplan to the awesome master bedroom!!! The location alone is a huge upgrade from other homes in the community, this property is easy to find and has plenty of parking right in front of home. As you enter you will notice the beautiful high-end gray 24 x 12 tile flooring. The kitchen is highlighted with stainless steel appliances, huge granite island perfect for entertaining or those quick meals. The gorgeous white shaker cabinets have built-in pull out drawers to make looking for everything much easier. Upgraded recessed lighting makes the home really shine. The master bedroom features nice big windows that give you great views of the mountains and more, in addition the master features a walk-in closet, walk-in shower and dual sinks and soo much more I can’t fit it in the remarks….As for energy efficiency…We have tankless water heater, dual pane windows, energy efficient a/c unit and soo much more….. Want association amenities....We have soo much it will make your head spin, how about a huge associaion pool and spa, a clubhouse, a club house bar you can rent out for parties, tons of areas for the kiddies or even you to play, they even have a hammocks to rest your weary bones....This place has everything you want and stuff you didn't even know you wanted...You will love this home!!!!

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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: 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
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,702
Property Tax -$480
Property Insurance -$60
HOA -$145
Property Management Fees -$156
CASH FLOW
$107

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.

$489,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.54%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$40,695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6003$2,650
$2,650
RENT COMPS ANALYSIS
  • 4270 Horvath Corona, CA 3
    • 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.96
    •  
  • 2521 Verna Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 2020
    property image
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.91
    •  
  • 2625 Verna Drive Corona, CA 2
    • 3 beds 3 baths ∙ 1,289 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,289 Sqft ∙ Built 2019
    property image
    LEASED 05/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.02
    •  
PROPERTY LISTING DETAILS
Sam Chinarian
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21149038
Last Updated: 07/13/2021
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