1015 La Terraza · Corona, CA 92879

$359,800

2 bd · 2.0 ba · 1,063 sqft · MultiFamily public records · 71 Days on market

Built 1991 Good condition $338/sqft · 41% below area Est $415k · 13% under $444/mo HOA · 22% of rent ↓ 1% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Turnkey rental in highly desired Triana at Corona Ranch. This is an upgraded condo that features all new Milgard dual pane windows and sliders, vaulted ceilings, granite counter tops in kitchen and bathroom, upgraded cabinets, stainless steel appliances, tile floors, crown molding, walk in closet in master bedroom, in door laundry, washer, dryer, and fridge is included, gated community with pool, spa, gym, and clubhouse. Plenty of parking. Great location! Unit has a partial view. Owner pays for water and trash. Low-maintenance gated HOA community, HOA dues cover water, trash, and exterior maintenance.

Key facts

• Parking
• Community pool
• Built 1991

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1.0-bath units multifamily listed at $360k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $651/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $360k).
• Recommended offer: $338k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 2.8% in Corona — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#461 in CA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A-; Watch: commute C-, health & safety D, amenities F.
• Corona-Norco Unified (suburban): math 46% / reading 61% proficiency, ranked #312 of 1,400 in CA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: William Mckinley Elementary (616 students, 81% FRL); Auburndale Intermediate (592 students, 88% FRL); Norco High (2,070 students, 72% FRL) — zoned schools average 80% FRL vs 35% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 104 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $225k; list at $360k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,212 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.67% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.26%
• DSCR: 2.03
• GRM: 5.0

CMA / ARV

• ARV (median comp): $415,000
• List price: $359,800
• Delta: -13.30%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Vista Del Cerro Dr #202	0.05mi	2/2.0	1,087 (+2%)	1mo	$390,000	$359	93
1020 La Terraza	0.03mi	2/2.0	941 (-12%)	0mo	$415,000	$441	79
1020 La Terraza #104	0.04mi	2/2.0	941 (-12%)	0mo	$415,000	$441	79
1035 La Terraza #104	0.08mi	2/2.0	941 (-12%)	0mo	$440,000	$468	77
1010 La Terraza #207	0.03mi	2/2.0	941 (-12%)	3mo	$412,000	$438	77
1965 Las Colinas Cir #308	0.13mi	2/2.0	941 (-12%)	1mo	$400,000	$425	74
2201 Cabana Ct	0.28mi	3/2.5 (+1)	1,199 (+13%)	3mo	$650,000	$542	56
2225 Arabian	0.39mi	3/2.5 (+1)	1,318 (+24%)	2mo	$590,000	$448	48
2220 Ascot St	0.41mi	3/2.5 (+1)	1,318 (+24%)	3mo	$560,000	$425	46
1232 Paseo Azul	0.85mi	2/2.5	1,286 (+21%)	2mo	$630,000	$490	36
436 Roosevelt	0.90mi	3/2.0 (+1)	1,272 (+20%)	1mo	$715,000	$562	34
4020 Byron St	1.41mi	3/2.0 (+1)	1,299 (+22%)	1mo	$580,000	$446	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.66×
• Total profit: $66,342
• Equity at exit: $53,647

10-year hold

• IRR: 25.0%
• Equity multiple: 3.17×
• Total profit: $219,035
• Equity at exit: $31,109

Cash invested: $100,744 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 1 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 92879

• Active inventory: 104
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $6,000 high
• Mortgage (P&I): −$1,887
• Tax from tax record: −$307 /mo · $3,678/yr
• Insurance: −$150
• HOA: −$444
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $1,953

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,000
Total (3 units)			$6,000

Break-even live

Break-even rent $3,528

Max offer price $359,800

Occupancy floor 62%

Sensitivity live

Price	-10% $2,156	-5% $2,055	+0% $1,953	+5% $1,851	+10% $1,749
Rent	-10% $1,479	-5% $1,716	+0% $1,953	+5% $2,190	+10% $2,427
Rate	-1.0pp $2,134	-0.5pp $2,044	base $1,953	+0.5pp $1,859	+1.0pp $1,765

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $89,950
• Closing costs: $10,794
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 La Terraza Cir Corona, CA	1.0	1.0	642	$2,000	$3.12	10d	1	0.03mi
1035 La Terraza Cir #303 Corona, CA	1.0	1.0	642	$2,150	$3.35	73d	1	0.07mi
1005 Vista del Cerro Dr #103 Corona, CA	1.0	1.0	642	$1,975	$3.08	12d	1	0.08mi
1030 Vista del Cerro Dr #204 Corona, CA	1.0	1.0	724	$2,000	$2.76	93d	1	0.11mi
1023 Vista del Cerro Dr #203 Corona, CA	1.0	1.0	642	$1,895	$2.95	30d	1	0.12mi
1965 Las Colinas Cir #305 Corona, CA	1.0	1.0	642	$1,950	$3.04	93d	1	0.13mi
1995 Las Colinas Cir #304 Corona, CA	1.0	1.0	642	$1,950	$3.04	93d	1	0.13mi
2178 Stoneridge Dr Corona, CA	1.0–2.0	1.0–2.0	822	$1,855	$2.26	7d	9	0.64mi
2235 Treehouse Ln Corona, CA	1.0–2.0	1.0–2.0	850	$1,906	$2.24	2d	13	0.76mi
2160 Highpointe Dr #112 Corona, CA	1.0	1.0	540	$1,900	$3.52	17d	1	0.82mi
451 Wellesley Dr Corona, CA	1.0–3.0	1.0–3.0	1038	$2,410	$2.32	2d	23	0.85mi
2225 Collett Ave Corona, CA	1.0–2.0	1.0–2.0	1027	$2,340	$2.28	2d	13	0.86mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	892	$1,936	$2.17	29d	12	1.00mi
2365 Promenade Ave Corona, CA	1.0–2.0	1.0–2.0	856	$1,936	$2.26	2d	11	1.00mi

Property features AI

Finance

• Other: Community features: horse trails, golf course, hiking, parkAccess via paved city streets (Hidden Valley and McKinley)
• Financial info: Gross scheduled income $24,900Gross operating income $24,900Gross income $24,900Net operating income $15,138Operating expenses $9,762Other expenses $5,330 (HOA dues)Insurance expense $648New taxes $3,784Actual/total rent $2,075Tenant pays electricity
• HOA & community: Part of Triana associationHOA fee $444.19 monthlyAssociation amenities: water, pets permitted, gym/exercise room, pool, trash, barbecue, clubhouse, spa, picnic area

Exterior

• Parking: Assigned on-site carport (1 space)
• Security: Smoke detector
• Utilities: Public sewerDistrict/public water
• Home design: CondominiumAttached propertyOne-story unitTotal 3 stories in buildingTurnkey conditionHas a viewEntry located on level 3
• Construction: Total building area 7242+ common wallsNo accessory dwelling unit
• Exterior features: Community pool (association)No fencing noted

Interior

• Kitchen: MicrowaveBuilt-in rangeRefrigeratorDishwasher
• Bedrooms: 1 bedroom (entry level 3)
• Flooring: TileCarpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (furnace)Central cooling
• Interior features: BalconyUnfurnishedCeiling fanOpen floor planCathedral/vaulted ceilingsDouble pane windowsSmoke detectorAssociation spa
• Laundry & utility: Washer includedDryer includedInside laundry in closet

HOA detail $444/mo · $5,328/yr

• Likely covers: watertrashexterior maint.poolgymsecurity

Listing history 35 events

1. 2026-06-18
   days on market $359,800 Active 71 DOM
2. 2026-06-17
   days on market $359,800 Active 70 DOM
3. 2026-06-16
   days on market $359,800 Active 69 DOM
4. 2026-06-15
   days on market $359,800 Active 68 DOM
5. 2026-06-13
   days on market $359,800 Active 66 DOM
6. 2026-06-13
   days on market $359,800 Active 65 DOM
7. 2026-06-09
   days on market $359,800 Active 62 DOM
8. 2026-06-07
   pricedays on market $359,800 Active 61 DOM
9. 2026-06-04
   days on market $360,000 Active 58 DOM
10. 2026-06-03
    days on market $360,000 Active 57 DOM
11. 2026-06-02
    days on market $360,000 Active 56 DOM
12. 2026-06-01
    days on market $360,000 Active 55 DOM
13. 2026-05-31
    days on market $360,000 Active 54 DOM
14. 2026-04-07
    listed $360,000 Active 1213-char remark
15. 2025-11-20
    historical $1,800
16. 2025-11-13
    listed $1,800
17. 2011-11-28
    historical
18. 2011-11-27
    status Active
19. 2011-11-15
    historical Hold
20. 2011-10-21
    status Active
21. 2011-10-08
    historical Hold
22. 2011-09-28
    status Active
23. 2011-09-15
    historical Hold
24. 2011-09-10
    status Active
25. 2011-08-29
    historical Hold
26. 2011-08-26
    listed $140,000 Active
27. 2009-10-29
    price $184,900 Expired
28. 2008-07-14
    historical
29. 2008-04-17
    price $234,900
30. 2008-03-10
    price $249,900
31. 2008-03-05
    listed $2,499,000
32. 2007-03-23
    historical
33. 2007-03-15
    soldstatus $225,000 Closed Sale
34. 2007-02-14
    listed $225,000
35. 2006-12-19
    soldstatus $365,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $3,678 · $307/mo
• Projected year-2 tax: $3,678 · $307/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,000
• − Mortgage interest: −$20,154
• − Property taxes: −$3,678
• − Insurance: −$1,799
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − HOA: −$5,328
• − Depreciation: −$10,467
• Taxable income: $19,053
• Est. tax owed @ 24.0%: −$4,573
• After-tax cash flow: $18,860/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $5,315–$15,945 screening

This property is in good condition with a good exterior and interior. It has a good location and amenities, making it a good investment for both resale and rental.

Components & finishes AI

Flooring tile Counters granite Appliances stainless steel

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the property's value for both resale and rental. ↑
• Both Clean the pool and spa — A clean pool and spa can attract more tenants and buyers, as it is a significant selling point for both. ↑
• Both Maintain the landscaping — Well-maintained landscaping can enhance the property's curb appeal and attract more tenants and buyers. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary William Mckinley Elementary Middle Auburndale Intermediate High Norco High

Schools (NCES district)

• District: Corona-Norco Unified
• NCES district ID: 0609850
• Math proficiency: 46% ▲ 1.00%
• Reading proficiency: 61% ▬ 0.00%
• Median HH income: $83,380
• Composite: 50.72/100
• National rank: #3920
• State rank: #312 of 1400 in CA

C Composite livability gradescore 63/100

Livability — Corona

• Score: 63/100
• State rank: #461
• US rank: #15787

Category grades

Amenities F Commute C- Cost of living F Crime B- Employment A+ Housing A- Health & safety D User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corona, CA
• County: Riverside County · 2,664,475 people
• City population: 188,369
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 49,317
• Household income: $92,229
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 12% of renters

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Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 21% Two or more races 13% Asian 13% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Italian 2% Romanian 1% Armenian 1%
• Foreign-born: 30% · Canada, Vietnam, China
• Languages at home: 43% English-only · Spanish 44% Tagalog/Filipino 2% Other Indo-European 2%

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Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -395.32%
• Current HPI: 380.3129
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Property features AI

Finance

• Other: Community features: horse trails, golf course, hiking, parkAccess via paved city streets (Hidden Valley and McKinley)
• Financial info: Gross scheduled income $24,900Gross operating income $24,900Gross income $24,900Net operating income $15,138Operating expenses $9,762Other expenses $5,330 (HOA dues)Insurance expense $648New taxes $3,784Actual/total rent $2,075Tenant pays electricity
• HOA & community: Part of Triana associationHOA fee $444.19 monthlyAssociation amenities: water, pets permitted, gym/exercise room, pool, trash, barbecue, clubhouse, spa, picnic area

Exterior

• Parking: Assigned on-site carport (1 space)
• Security: Smoke detector
• Utilities: Public sewerDistrict/public water
• Home design: CondominiumAttached propertyOne-story unitTotal 3 stories in buildingTurnkey conditionHas a viewEntry located on level 3
• Construction: Total building area 7242+ common wallsNo accessory dwelling unit
• Exterior features: Community pool (association)No fencing noted

Interior

• Kitchen: MicrowaveBuilt-in rangeRefrigeratorDishwasher
• Bedrooms: 1 bedroom (entry level 3)
• Flooring: TileCarpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (furnace)Central cooling
• Interior features: BalconyUnfurnishedCeiling fanOpen floor planCathedral/vaulted ceilingsDouble pane windowsSmoke detectorAssociation spa
• Laundry & utility: Washer includedDryer includedInside laundry in closet

Price history

-1.4% since first listed

26 events — show timeline

• 2026-06-19 Listing Removed — CRMLS
• 2026-06-08 Relisted — CRMLS
• 2026-06-07 Listing Removed — CRMLS
• 2026-06-06 Price Changed $359,800 CRMLS
• 2026-04-07 Listed $360,000 CRMLS
• 2025-11-20 Rental Removed $1,800 CRMLS
• 2025-11-13 Listed for Rent $1,800 CRMLS
• 2011-11-28 Listing Removed — CRMLS
• 2011-11-27 Relisted — CRMLS
• 2011-11-15 Delisted — CRMLS
• 2011-10-21 Relisted — CRMLS
• 2011-10-08 Delisted — CRMLS
• 2011-09-28 Relisted — CRMLS
• 2011-09-15 Delisted — CRMLS
• 2011-09-10 Relisted — CRMLS
• 2011-08-29 Delisted — CRMLS
• 2011-08-26 Listed $140,000 CRMLS
• 2009-10-29 Price Changed $184,900 CRMLS
• 2008-07-14 Listing Removed — CRMLS
• 2008-04-17 Price Changed $234,900 CRMLS
• 2008-03-10 Price Changed $249,900 CRMLS
• 2008-03-05 Listed $2,499,000 CRMLS
• 2007-03-23 Listing Removed — CRMLS
• 2007-03-15 Sold (MLS) $225,000 CRMLS
• 2007-02-14 Listed $225,000 CRMLS
• 2006-12-19 Sold (Public Records) $365,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $3,678 · +3.2% YoY. Source: county tax records.