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9075 Blue Flag Street Corona, CA 92883

3 Beds 3 Baths 1,928 sqft Built 1997

$499,990

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $259.33
  • 26 Days on Market
  • MLS # : IG20213004
  • Updated Date : 10/30/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,928 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

**WELCOME HOME** In the Beautiful Community of Wild Rose sits this 2-Story Single Family Residence with 3 Bedrooms, 2.5 Bathrooms, plus a large office/den that can be converted to a 4th Bedroom! As you enter, you are greeted with a Grand Entrance with High Ceilings and a Formal Living Room. To the Family Room, you will find a cozy Fireplace and an Open Concept Kitchen floor plan with updated Countertops and Kitchen Island. Downstairs you will also find the office/den with Double Door Entry and a Powder Room. All bedrooms are upstairs with a little nook on the landing for additional office desk space if needed. Master bedroom includes Master Bathroom with Walk-in Closet. Great Community with LOW taxes and LOW HOA! In close proximity to Dos Lagos Shopping Center, The Crossings Shopping Center with Shops and Restaurants, Temescal Valley Elementary, Toms Farms, and the 15 FWY. This Home Will Not Last!!!

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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: Wildrose

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k627k

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

Neighborhood: Wildrose

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
Temescal Valley Elementary School Primary Regular 935 33 10
Temescal Valley Elementary School Middle Regular 935 33 10
Santiago High School High Regular 3,692 129 8

Temescal Valley Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 33
10
GreatSchools Rating

Temescal Valley Elementary School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 33
10
GreatSchools Rating

Santiago High School

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

$449,991$549,989$499,990

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,845
Property Tax -$489
Property Insurance -$74
HOA -$65
Property Management Fees -$142
CASH FLOW
-$215

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.

$499,990

PROJECTED PRICE

$2,400

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.0%
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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,247

INVESTMENT

$138,247

Down Payment
$124,998
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,998
Loan Amount $374,993
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$18,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,458

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3953$2,4004$2,4955$2,600
$2,600
RENT COMPS ANALYSIS
  • 9075 Blue Flag Street Corona, CA 3
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.24
    •  
  • 9172 Lantana Drive Corona, CA 1
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1994
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.33
    •  
  • 22835 Rockcress Street Corona, CA 2
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 1994
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.24
    •  
  • 9375 Nickellaus Court Corona, CA 4
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1999
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.24
    •  
  • 22808 Canyon View Drive Corona, CA 5
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1998
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.29
    •  
PROPERTY LISTING DETAILS
Linda Hao
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20213004
Last Updated: 10/30/2020
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