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451 E Citron Street Corona, CA 92879

3 Beds 2 Baths 1,083 sqft Built 1959

$455,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $420.13
  • 3 Days on Market
  • MLS # : PW21008293
  • Updated Date : 01/15/2021 at 09:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,083 sqft
  • Baths : 1 full , 1 half
Listing Agent

Impact Properties, Inc

Listing Agent's Description

This beautiful Corona home can be yours now! With the upgraded kitchen, the spacious living room and the incredible 300 + square feet enclosed patio that adds so many options for you and your living space, you will feel right at home. Recessed lights, newer kitchen cabinets, paint and new appliances and RV access are just the beginning of the great points of this home Set an appointment to see it for yourself today!

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: Central Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k627k

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

Neighborhood: Central Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822579

* 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
Lincoln Alternative Elementary School Primary Magnet 967 35 9
Lincoln Alternative Elementary School Middle Magnet 967 35 9
Centennial High School High Regular 3,306 119 8

Lincoln Alternative Elementary School

  • Education Level: Primary
  • # of students: 967
  • # of teachers: 35
9
GreatSchools Rating

Lincoln Alternative Elementary School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 35
9
GreatSchools Rating

Centennial High School

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

$409,500$500,500$455,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,580
Property Tax -$431
Property Insurance -$53
Property Management Fees -$117
CASH FLOW
-$201

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.

$455,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.83

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9803$2,1504$2,200
$2,200
RENT COMPS ANALYSIS
  • 451 E Citron Street Corona, CA 2
    • 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.83
    •  
  • 349 E Rancho Road Corona, CA 1
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1959
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.51
    •  
  • 1324 Camelot Drive Corona, CA 3
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.58
    •  
  • 323 E Rancho Road Corona, CA 4
    • 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1962
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.59
    •  
PROPERTY LISTING DETAILS
Donald Jacks
Impact Properties, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21008293
Last Updated: 01/15/2021
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