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27500 Coyote Mesa Drive 
Corona, CA
92883
4 Beds 3 Baths 2,274 sqft
Built 2002
INVESTimate
$505,000
List Price
$139,575
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PROPERTY INFO
FACTS
- Built In 2002
- Price/Sqft : $222.08
- 2 Days on Market
- MLS # : IG20174626
- Updated Date : 08/25/2020 at 13:29
CONSTRUCTION
- Beds : 4
- Floor Size : 2,274 sqft
- Baths : 3 full
Listing Agent
Provident Real Estate
Listing Agent's Description
Turnkey mountain view home in the beautiful community of Horsethief Canyon Ranch. This desired floor plan features 4 bedrooms and 3 full bathrooms! The master bedroom is located on the first floor in addition to another bedroom and full bathroom, ideal for overnight guests. Wood flooring installed throughout all main living areas offering a uniform flow. The kitchen opens up to the family room and boasts a large island with additional seating and plenty of cabinets for all of your storage and organizational needs. The master bedroom showcases a spacious en-suite with dual sinks, soaking tub, walk-in shower and closet! Upstairs you will find two additional bedrooms with a shared Jack-and-Jill bathroom. Horsethief Canyon is the perfect community to raise your family. There are two olympic-sized community pools, tennis courts, sand volleyball court, basketball courts, soccer and baseball fields, walking paths, clubhouse, gym as well as regular HOA sponsored activities. Close to shopping and freeways, Horsethief has Luiseno K-8 school right on site. Best of all there are no Mello Roos, so taxes are among the lowest in the area! Estimated tax rate is 1.1%! Do not miss out on this opportunity, schedule your private showing today!
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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: Horsethief Canyon Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Horsethief Canyon Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,340 |
| EXPENSES | Loan Payment | -$1,863 |
| Property Tax | -$444 | |
| Property Insurance | -$82 | |
| HOA | -$85 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
-$273
|
||
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.
$505,000
PROJECTED PRICE
$2,340
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.20% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$139,575
LOAN DETAILS
$1,863
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $126,250 |
| Loan Amount | $378,750 |
3.17
YEARS SAVED
$15,048
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,340
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$2,456
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
-
27500 Coyote Mesa Drive Corona, 2
- 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $2,340
- $1.03
-
27410 Barcelona Drive Corona, 1
- 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2000
LEASED 05/31/20- Rent
- Rent Per SQFT
- $2,300
- $1.02
-
27481 Pacos Corona, 3
- 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2002
LEASED 05/15/19- Rent
- Rent Per SQFT
- $2,400
- $1.06
-
13865 Buckskin Trails Drive Corona, 4
- 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2002
LEASED 12/03/19- Rent
- Rent Per SQFT
- $2,400
- $1.10
-
13710 Desert Ridge Corona, 5
- 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2000
LEASED 05/06/20- Rent
- Rent Per SQFT
- $2,475
- $1.14
PROPERTY LISTING DETAILS
Provident Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20174626
Last Updated: 08/25/2020
