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852 Oso Drive Corona, CA 92879

3 Beds 2 Baths 1,202 sqft Built 1997

$440,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $366.06
  • 7 Days on Market
  • MLS # : OC20231620
  • Updated Date : 11/03/2020 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,202 sqft
  • Baths : 2 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Absolutely Gorgeous!! This amazing single-story home is the epitome of turn-key. The home is nestled in the beautiful Corona Ranch Community which provides clean home style living and aesthetics. The home is also ideally located walking distance to the prestigious and California renown elementary school, Corona Ranch Elementary. The curb side appeal of this home is phenomenal, and the backyard is perfect for kids & pets to play and parents to entertain. The home is equally amazing and meticulously cared for. Pride of ownership permeates this house as it boasts many upgrades and amenities such as; bright and open floor plan, tile, carpet & stunning luxury vinyl plank flooring, baseboards, tall ceilings, plantation shutters, recessed lighting, fireplace, large open kitchen with granite counter tops, custom backsplash, stainless steel appliances, pantry, large bedrooms with ceiling fans, master bedroom with walk in closet, and so much more. Words and pictures can never convey the beauty this home has to offer, come and see for yourself!!

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
Corona Ranch Elementary School Primary Regular 1,105 38 8
Corona Ranch Elementary School Middle Regular 1,105 38 8
John F. Kennedy Middle College High School High Magnet 646 22 7

Corona Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 38
8
GreatSchools Rating

Corona Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,105
  • # of teachers: 38
8
GreatSchools Rating

John F. Kennedy Middle College High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 22
7
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,623
Property Tax -$453
Property Insurance -$56
HOA -$52
Property Management Fees -$112
CASH FLOW
-$397

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.

$440,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.58

    LIST RENT PER SQFT
  • $1,908

    COMP ESTIMATED VALUE
  • $1.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1503$2,2004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 852 Oso Drive Corona, CA 1
    • 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,202 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.58
    •  
  • 1193 Mira Valle Corona, CA 2
    • 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 1996
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.53
    •  
  • 1235 Paseo Azul Way Corona, CA 3
    • 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 1997
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.56
    •  
  • 585 Shenandoah Road Corona, CA 4
    • 3 beds 3 baths ∙ 1,384 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,384 Sqft ∙ Built 1997
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.59
    •  
  • 911 Mesa Alta Circle Corona, CA 5
    • 3 beds 3 baths ∙ 1,374 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,374 Sqft ∙ Built 2016
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.67
    •  
PROPERTY LISTING DETAILS
Curtis Rodriguez
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20231620
Last Updated: 11/03/2020
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