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4405 Floyd Street Corona, CA 92883

4 Beds 3 Baths 2,344 sqft Built 2000

$735,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $313.57
  • 4 Days on Market
  • MLS # : PW21009136
  • Updated Date : 01/15/2021 at 13:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mike Dunn & Associates Llc

Listing Agent's Description

Beautiful home. New Everything !!! Check this out...House completely redone within last year or so. Move in ready. Brand new pebble tech pool and spa with mobile capability equipment. New sliding glass doors and windows lots of warm sunlight. New A/C with new ducting. Brand new 36 panel solar system installed 12/20 paid in full. Beautiful new kitchen with large custom 8x8 island and quartz countertops. For the cook in the family look no further. This kitchen includes double oven, micro wave, dishwasher, large farm style sink, and wine fridge. Beautiful wood/tile flooring throughout this beautiful home (carpet in bedrooms). Very open floor plan with 20ft high ceilings. All new hardware and paint throughout the home. For the guy who likes a nice garage this one's got great epoxy flooring. Huge lot, great landscaping. This home is READY for your family. Walk to parks, tennis courts, golf course, and great schools.

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: Eagle Glen

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k717k

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

Neighborhood: Eagle Glen

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822867

* 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
Wilson Elementary School Primary Regular 981 33 6
El Cerrito Middle School Middle Regular 1,256 43 8
Santiago High School High Regular 3,692 129 8

Wilson Elementary School

  • Education Level: Primary
  • # of students: 981
  • # of teachers: 33
6
GreatSchools Rating

El Cerrito Middle School

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

Santiago High School

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

$661,500$808,500$735,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,553
Property Tax -$808
Property Insurance -$84
HOA -$88
Property Management Fees -$163
CASH FLOW
-$936

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.

$735,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,778

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7603$2,7704$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 4405 Floyd Street Corona, CA 2
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $1.18
    •  
  • 4325 Leonard Way Corona, CA 1
    • 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 2001
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.20
    •  
  • 20315 Winton Street Corona, CA 3
    • 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 2004
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $1.20
    •  
  • 3757 Nelson Street Corona, CA 4
    • 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
  • 1657 Rivendale Corona, CA 5
    • 5 beds 3 baths ∙ 2,427 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,427 Sqft ∙ Built 2001
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.24
    •  
PROPERTY LISTING DETAILS
Mike Dunn
Mike Dunn & Associates Llc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21009136
Last Updated: 01/15/2021
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