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

808 San Jacinto Drive Corona, CA 92879

3 Beds 2 Baths 1,716 sqft Built 1965

$570,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $332.17
  • 12 Days on Market
  • MLS # : TR21012461
  • Updated Date : 01/30/2021 at 18:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,716 sqft
  • Baths : 2 full
Listing Agent

Abundant Living Realty

Listing Agent's Description

Location, location, location. Located on a hillside with a view of the city and the mountains from the backyard, in a cul-de-sac, in a very nice and quiet neighborhood. A turn key house. This beautiful 2-story home is move-in ready. Enter into the house to a nice living room with a wooden floor and a fireplace, that leads into the open dinning room kitchen area with a view of the large backyard that overlooks the mountains. Brand new kitchen with granite countertops with new appliances. The master bedroom is conveniently placed on the first floor tucked away in the back. Direct access to the garage from the kitchen. Beautiful entry stairway that leads up to the 2nd floor to 2 very large bedrooms that could practically be turned into 3 to 4 bedrooms. Lots and lots of closet spaces. New back covered patio that's length of the house for great outdoor living and entertainment. But wait, with the new back patio comes with a very large backyard on a hillside with a killer view of the mountains. New landscaping both front and back yards. Beautiful large shed that can be also used for chickens and more. An extra wide double side gate for "his or her toys." This home has newer solar panels (not a lease) to keep your Edison bill smaller than a price of a cup from Starbucks and has brand new complete Pex piping the entire house! No HOA or Mello-Roos. Priced to sell!

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: North Corona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: North 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
Parkridge Elementary School Primary Regular 816 31 3
Auburndale Intermediate School Middle Regular 507 24 3
Centennial High School High Regular 3,306 119 8

Parkridge Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 31
3
GreatSchools Rating

Auburndale Intermediate School

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

Centennial High School

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

$513,000$627,000$570,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,980
Property Tax -$540
Property Insurance -$69
Property Management Fees -$132
CASH FLOW
-$490

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.

$570,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,334

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,3503$2,400
$2,400
RENT COMPS ANALYSIS
  • 808 San Jacinto Drive Corona, CA 1
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.30
    •  
  • 410 E Rancho Road Corona, CA 2
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1959
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.33
    •  
  • 1156 Gentle Drive Corona, CA 3
    • 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1964
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
PROPERTY LISTING DETAILS
Stephen Hahm
Abundant Living Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21012461
Last Updated: 01/30/2021
BESbswy