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9142 Plume Grass Street Corona, CA 92883

4 Beds 3 Baths 1,987 sqft Built 1997

$585,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $294.41
  • 5 Days on Market
  • MLS # : IV21023136
  • Updated Date : 02/03/2021 at 17:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,987 sqft
  • Baths : 3 full
Listing Agent

M G R Real Estate

Listing Agent's Description

Amazing Two Story in Corona!! Spacious Floor-Plan offering 4 Bedrooms and 3 full bathrooms. First floor Bedroom and Bathroom with formal living room & formal dining room with Cathedral ceilings, family room with fireplace. Nice Backyard with lots of grass for the kids to play. Large Master Bedroom and Master Bathroom with dual sinks, walk-In closet and large garden tub, three car attached garage.

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: 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
El Cerrito Middle School Middle Regular 1,256 43 8
Santiago High School High Regular 3,692 129 8
El Cerrito Middle School Middle Unknown NA

El Cerrito Middle School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 43
8
GreatSchools Rating

Santiago High School

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

El Cerrito Middle School

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

$526,500$643,500$585,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,032
Property Tax -$573
Property Insurance -$75
Property Management Fees -$149
CASH FLOW
-$299

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.

$585,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.43%

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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$14,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,608

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,5304$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 9142 Plume Grass Street Corona, CA 3
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.27
    •  
  • 22835 Rockcress Street Corona, CA 1
    • 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
    •  
  • 22666 Hannah Court Corona, CA 2
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1998
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.39
    •  
  • 22808 Canyon View Drive Corona, CA 4
    • 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
    •  
  • 23571 Aquacate Road Corona, CA 5
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2003
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.33
    •  
PROPERTY LISTING DETAILS
Antonio Hermosillo
M G R Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21023136
Last Updated: 02/03/2021
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