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778 Pescadero Circle Corona, CA 92879

4 Beds 4 Baths 2,673 sqft Built 1995

$679,900

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Corona Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822621

* 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
Auburndale Intermediate School Middle Regular 507 24 3
Norco High School High Regular 2,244 83 7
Auburndale Intermediate School Middle Unknown NA

Auburndale Intermediate School

  • Education Level: Middle
  • # of students: 507
  • # of teachers: 24
3
GreatSchools Rating

Norco High School

  • Education Level: High
  • # of students: 2,244
  • # of teachers: 83
7
GreatSchools Rating

Auburndale Intermediate School

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

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

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$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 70% 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

0.33

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
$2,570
1$2,5702$2,6503$2,7004$2,7505$2,950
$2,950
RENT COMPS ANALYSIS
  • 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
Brian Spinuzzi
Logic Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21141800
Last Updated: 07/12/2021
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