Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $254.36
- 2 Days on Market
- MLS # : IG21141800
- Updated Date : 07/12/2021 at 21:45
CONSTRUCTION
- Beds : 4
- Floor Size : 2,673 sqft
- Baths : 3 full , 1 half
Listing Agent
Logic Realty
Listing Agent's Description
Wonderful Corona Ranch two story home with two masters, one downstairs! Everything you are looking for and then some. This four bedroom home actually has a large office that could easily be converted to a fifth bedroom and it has a loft that could be a sixth bedroom if enclosed! The backyard is well manicured and ready for your enjoyment and large enough for a pool! Windows have been tinted! This is a large home with so many options for you and your family. Home is across the street from award winning Corona Ranch Elementary and walking distance to the park with easy access to shopping and both the 15 and 91 freeways. This is a must see but you must act fast as typical for this highly sought after area.
SEE MORE
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: Corona Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Corona Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,570 |
| EXPENSES | Loan Payment | -$2,362 |
| Property Tax | -$700 | |
| Property Insurance | -$92 | |
| HOA | -$75 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$810
|
||
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
$2,570
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$185,924
LOAN DETAILS
$2,362
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $169,975 |
| Loan Amount | $509,925 |
0.33
YEARS SAVED
$524
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,570
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$2,840
COMP ESTIMATED VALUE -
$1.06
COMP AVG. RENT PER SQFT
Comps Range
-
778 Pescadero Circle Corona, CA 1
- 4 beds 4 baths ∙ 2,673 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,673 Sqft ∙ Built 1995
- Rent
- Rent Per SQFT
- $2,570
- $0.96
-
424 Dylan Drive Corona, CA 2
- 5 beds 3 baths ∙ 2,642 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,642 Sqft ∙ Built 1989
LEASED 05/07/20- Rent
- Rent Per SQFT
- $2,650
- $1.00
-
2614 Las Mercedes Lane Corona, CA 3
- 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1990
LEASED 06/16/20- Rent
- Rent Per SQFT
- $2,700
- $1.16
-
838 Villa Montes Circle Corona, CA 4
- 5 beds 3 baths ∙ 2,615 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,615 Sqft ∙ Built 1997
LEASED 07/19/20- Rent
- Rent Per SQFT
- $2,750
- $1.05
-
957 Allegre Drive Corona, CA 5
- 5 beds 3 baths ∙ 2,830 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,830 Sqft ∙ Built 1998
LEASED 05/26/20- Rent
- Rent Per SQFT
- $2,950
- $1.04
PROPERTY LISTING DETAILS
Logic Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21141800
Last Updated: 07/12/2021
