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843 Donatello Drive Corona, CA 92882

4 Beds 3 Baths 2,300 sqft Built 1998

$749,900

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $326.04
  • 4 Days on Market
  • MLS # : IV21038663
  • Updated Date : 02/25/2021 at 09:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 3 full
Listing Agent

Redfin

Listing Agent's Description

Remodeled, stunning home! Surrounded with city lights and mountain views. This home is located in the highly desirable, Mountain Gate community. 4 large bedrooms plus a bonus room (could be a 5th bedroom if add a closet). First floor bedroom and full bath. Boasting a bright and open floor plan, this renovated home features upgraded neutral floor tile, plush carpeting, recessed lighting, chandeliers, new door hardware and new water heater. The magnificent kitchen features soft close grey wood cabinetry, upgraded stainless steel appliances, quartz countertops, nook and breakfast bar seating. Open family room with a stacked stone fireplace. Spacious master suite is surrounded by light-catching windows and views forever, it offers an en-suite bathroom with double sinks, glass-encased shower, separate soaking tub and walk in closet. The secondary bedrooms share a remodeled Jack and Jill hall bathroom. Mature landscape, lit front staircase with flagstone accents. Small gated RV/Boat area. Awesome views from the backyard with a large Alumiwood patio cover, raised vegetable gardens, carriage lights, water fountain and BBQ. 3 car Garage with epoxy coated floors and storage. Large driveway that accommodates 4 parked cars. Mountain Gate offers residents a friendly community with nearby parks and walking paths. Schools and shopping nearby.

SEE MORE

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
Eisenhower Elementary School Primary Regular 920 33 9
Eisenhower Elementary School Middle Regular 920 33 9
Santiago High School High Regular 3,692 129 8

Eisenhower Elementary School

  • Education Level: Primary
  • # of students: 920
  • # of teachers: 33
9
GreatSchools Rating

Eisenhower Elementary School

  • Education Level: Middle
  • # of students: 920
  • # of teachers: 33
9
GreatSchools Rating

Santiago High School

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

$674,910$824,890$749,900

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,605
Property Tax -$897
Property Insurance -$83
Property Management Fees -$166
CASH FLOW
-$931

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.

$749,900

PROJECTED PRICE

$2,820

PROJECTED RENT

0.38%

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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,915

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6953$2,7504$2,8205$3,200
$3,200
RENT COMPS ANALYSIS
  • 843 Donatello Drive Corona, CA 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.23
    •  
  • 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
    •  
  • 772 Donatello Drive Corona, CA 3
    • 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 1998
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.30
    •  
  • 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
Coleen Hyams
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21038663
Last Updated: 02/25/2021
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