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4445 Owens Street # 101 
Corona, CA
92883
3 Beds 3 Baths 1,825 sqft
Built 2006
INVESTimate
$449,900
List Price
$124,974
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PROPERTY INFO
FACTS
- Built In 2006
- Price/Sqft : $246.52
- 2 Days on Market
- MLS # : IG20174524
- Updated Date : 08/25/2020 at 14:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,825 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty
Listing Agent's Description
Located in the much desired area of Dos Lagos in the city of Corona! This gorgeous home offers 3 spacious bedrooms and 2.5 bathrooms with exquisite finishes and many upgrades. Enter the home into the family room that has an abundance of natural light. Beautiful kitchen with upgraded cabinets, island and granite counter-tops. Upstairs offers 2 bedrooms and a mater suite with a private balcony. Enjoy the community amenities which include: gated street, club house, pool, parks, quiet neighborhood, walking distance to shops, restaurants, entertainment and easy freeway access. Come see all the features this home has to offer. Schedule your private tour before its to late!
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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: Dos Lagos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Dos Lagos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,290 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$524 | |
| Property Insurance | -$71 | |
| HOA | -$345 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$445
|
||
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.
$449,900
PROJECTED PRICE
$2,290
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.86% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,974
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,475 |
| Loan Amount | $337,425 |
0.67
YEARS SAVED
$1,596
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,290
LIST RENT -
$1.25
LIST RENT PER SQFT
-
$2,345
COMP ESTIMATED VALUE -
$1.29
COMP AVG. RENT PER SQFT
Comps Range
-
4445 Owens Street Corona, 3
- 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $2,290
- $1.25
-
9195 Desert Acacia Lane Corona, 1
- 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1993
LEASED 02/24/20- Rent
- Rent Per SQFT
- $2,100
- $1.25
-
9142 Desert Acacia Lane Corona, 2
- 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1993
LEASED 11/26/19- Rent
- Rent Per SQFT
- $2,200
- $1.30
-
4453 Owens Street Corona, 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
-
9101 Sydney Blue Circle Corona, 5
- 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 1992
LEASED 05/01/19- Rent
- Rent Per SQFT
- $2,450
- $1.33
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20174524
Last Updated: 08/25/2020
