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485 Shady Oak Drive Corona, CA 92882

4 Beds 3 Baths 2,033 sqft Built 1996

$739,900

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $363.94
  • 2 Days on Market
  • MLS # : IG21152248
  • Updated Date : 07/12/2021 at 22:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,033 sqft
  • Baths : 2 full , 1 half
Listing Agent

Great Joy Corporation

Listing Agent's Description

LOVELY 4 BEDROOMS, 2.5 BATHS, 3 ATTACHED CAR GARAGE, POOL HOME! LOCATED ON A CORNER LOT WITH STUNNING MOUTAINS VIEWS AND CITY LIGHTS, IT FEATURES VAULTED HIGH CEILINGS, LVNG-DINING COMBO, FAM RM W/FIREPLACE, LG KITCHEN W/ISLAND, INSIDE LAUNDRY, SPACIOUS BACKYARD W/POOL, SPA AND GAZEBO. ALL BEDROOMS LOCATED UPSTAIRS WITH 2 FULL BATHROOMS BOTH WITH DOUBLE SINKS, HALF BATHROOM LOCATED DOWNSTAIRS. GOURMET KITCHEN WITH ORIGINAL TILE COUNTERS AND NEWER STAINLESS APPLIANCES. CONVENIENTLY LOCATED CLOSE TO SHOPPING CENTERS, SCHOOLS AND NOT TOO FAR FROM FREEWAYS. ALSO HAS A LEASE SOLAR SYSTEM.

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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: South Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k712k

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

Neighborhood: South Corona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822894

* 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
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Santiago High School High Regular 3,692 129 8
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 46
6
GreatSchools Rating

Santiago High School

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

Citrus Hills Intermediate School

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

$665,910$813,890$739,900

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,570
Property Tax -$807
Property Insurance -$76
Property Management Fees -$162
CASH FLOW
-$875

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.

$739,900

PROJECTED PRICE

$2,740

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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$10k

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$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $2,765

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$2,6953$2,7404$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 485 Shady Oak Drive Corona, CA 3
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.35
    •  
  • 3116 Windhaven Way Corona, CA 1
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 2000
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.31
    •  
  • 2980 Lombardy Lane Corona, CA 2
    • 5 beds 3 baths ∙ 2,172 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,172 Sqft ∙ Built 2001
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.24
    •  
  • 2975 Lombardy Lane Corona, CA 4
    • 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 2000
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.34
    •  
  • 212 Jessica Lane Corona, CA 5
    • 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,941 Sqft ∙ Built 2000
    property image
    LEASED 06/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.55
    •  
PROPERTY LISTING DETAILS
Jose Gallegos
Great Joy Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21152248
Last Updated: 07/12/2021
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