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730 Raphael Circle Corona, CA 92882

4 Beds 2 Baths 2,317 sqft Built 1998

$679,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $293.44
  • 4 Days on Market
  • MLS # : OC21022224
  • Updated Date : 02/04/2021 at 15:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,317 sqft
  • Baths : 2 full
Listing Agent

Legacy 15 Real Estate Brokers

Listing Agent's Description

Single level, 4 bedroom, 2 bath home with 3 car garage located on cul de sac street. Living room entry with vaulted ceilings and adjacent formal dining room. New dual toned paint throughout. Kitchen complete with recessed lights, stainless stove and microwave, fridge included, granite counters and breakfast bar that opens to family room. Large family room has dual ceiling fans, fireplace and slider doors to back yard. Master also has ceiling fan and slider door yard access. Master bath includes dual vanity, upgraded mirrors, oval tub, separate shower and mirrored walk-in closet with organizers. Bedrooms 2, 3 & 4 all have ceiling fans. 2nd bath dual vanity, granite counter and remodeled shower with travertine tile wall with glass tile ribbon and stone tile base. Separate laundry room with washer and dryer included. 3 car garage with epoxy floors, washing sink, storage cabinets and rafter storage. Large rear yard has covered patio with ceiling fans, lighting, lawn and backs to private slope. Potential RV parking access on side yard (driveway from street to gate hasn't been paved). Great curb appeal and one of the most desirable neighborhoods in Corona!

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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: 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
 

$611,910$747,890$679,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$2,362
Property Tax -$813
Property Insurance -$83
Property Management Fees -$160
CASH FLOW
-$708

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.

$679,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.40%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,924

INVESTMENT

$185,924

Down Payment
$169,975
Rehab Estimate
$5,750
Closing Costs
$10,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,975
Loan Amount $509,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,919

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6953$2,7104$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 730 Raphael Circle Corona, CA 3
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.17
    •  
  • 1037 Regina Way Corona, CA 1
    • 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 2000
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.15
    •  
  • 2980 Lombardy Lane Corona, CA 2
    • 5 beds 3 baths ∙ 2,172 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,172 Sqft ∙ Built 2001
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.24
    •  
  • 558 Rembrandt Drive Corona, CA 4
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1996
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.27
    •  
  • 750 Raphael Circle Corona, CA 5
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1998
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.38
    •  
PROPERTY LISTING DETAILS
Diane Cirignani
Legacy 15 Real Estate Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21022224
Last Updated: 02/04/2021
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