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272 Corona Cir
Lake Arrowhead, CA

272 Corona Cir

$560,000
3 bd • 3 ba • 1,824 sf

This analysis was generated by artificial intelligence on 1/28/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$560,000

Price/Sq.Ft

$307

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Sizeable Living Space: At 1,824 sqft, this property offers a good amount of living space, which is a plus compared to the smaller cabins in Lake Arrowhead. • Multiple Bedrooms and Bathrooms: The property has 3 bedrooms and 3 bathrooms, making it suitable for families or those needing extra space for guests. • Competitive Price per Square Foot: At $307.02 per square foot, the property is reasonably priced compared to the surrounding area. While specific comparables were not provided, this suggests the property may be a good value, assuming condition is average or better. • Potential Rental Income: The property has the potential to generate a monthly rental income of $2500, according to the provided market data. This could make it an attractive investment for buyers interested in short-term rentals (subject to local regulations). • Mountain Setting: The property is located in a desirable mountain resort community, which offers a unique lifestyle. The image shows a property surrounded by mature trees, suggesting a quiet, private setting. • Median Income Area: The median income in the area is $97,034. This suggests a stable community with a potential buyer base able to afford the property.

The Bad

• Lack of Specific Property Information: The property description is missing key details such as the year built, recent upgrades, or any specific property features. This lack of transparency makes it difficult to accurately assess the property's value and condition. • Unknown Maintenance Needs: The lack of information on the property's age and upgrades makes it difficult to predict future maintenance costs. This could lead to unexpected expenses for the buyer. • No Room Details Provided: The absence of room details makes it difficult to assess the layout and functionality of the property. • No Utility Information: The lack of utility information (septic vs. sewer, gas vs. electric) makes it difficult to determine ongoing expenses and potential system maintenance. • Potentially High Ownership Costs: The estimated monthly ownership costs of $3780 (mortgage, taxes, insurance) are significant. The potential for additional maintenance and upgrade costs could further increase the financial burden on the buyer. • Reliance on Local Expertise: The property's location in a unique mountain resort community means buyers will need to rely on a knowledgeable local real estate agent. This can be a limitation if buyers prefer to conduct their own due diligence.

The Ugly

• Potential for High Maintenance Costs: Given the unknown age and condition of the property, there is a strong possibility of needing significant maintenance or upgrades. This could include roof repairs, foundation work, plumbing, electrical, or septic system issues. • High Fire Risk: Lake Arrowhead is a high fire risk area. This means higher insurance premiums and the possibility of property damage. The property may require costly fire mitigation measures. • Snow and Weather Challenges: The property is subject to significant snowfall and inclement weather, which could affect accessibility and increase the risk of power outages. Snow removal is an additional cost consideration. • Septic System Uncertainty: Many properties in the area use septic systems, which require regular maintenance and inspections. A poorly maintained system can lead to costly repairs or replacements. The absence of specific details on this system is concerning. • Limited Services: The property is located in a relatively remote community with limited access to certain services, such as high-speed internet, specialized medical care, and some retail stores. This could be a major issue for some buyers. • Lack of Lake Rights Information: The property details do not include any information about lake rights. If lake access is a priority, it is necessary to conduct further research to determine if the property includes these rights, which can significantly impact its value.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a larger home in a mountain setting: At 1,824 sqft, this property offers ample space compared to many smaller cabins in the area. The 3 bedrooms and 3 bathrooms make it suitable for families or those needing extra space for guests. • Families with a household income of $160,000+: Assuming a 20% down payment and a 7% interest rate, the estimated monthly mortgage payment would be ~$2980. Adding property taxes (~$500/month) and insurance (~$300/month), the total monthly ownership costs would be around $3780. This is comfortably within the 30% DTI for households earning $160,000+. • Buyers comfortable with potential maintenance: Given the unknown age and lack of listed upgrades, this property may appeal to those prepared for some upkeep. The mountain environment and potential for snow and fire risks mean that maintenance is a key consideration for buyers. • Buyers seeking a property with rental potential: With a potential monthly rental income of $2500 for a 3-bedroom home (based on market data), the property presents a potential investment opportunity for those willing to navigate the local vacation rental regulations. • Buyers who value privacy and a forested setting: The image shows the property surrounded by mature trees, suggesting a secluded location that may appeal to buyers seeking a quiet mountain retreat.

Not For

• Budget-conscious buyers: The estimated monthly ownership costs of $3780, combined with potential maintenance and upgrade needs, make this property less suitable for buyers on a tight budget. The lack of specific details about the home's condition also adds a layer of cost uncertainty. • Buyers seeking a turn-key property: Given the lack of information on recent upgrades and the unknown age of the property, buyers looking for a move-in-ready home may want to look elsewhere. The property will likely need some degree of maintenance or upgrades. • Buyers uncomfortable with mountain living: The property’s location in a mountain resort community means dealing with snow, fire risks, wildlife, and limited services. This is not suitable for those looking for an urban lifestyle. • Buyers seeking guaranteed lake access: The property details do not specify lake rights. If lake access is a priority, buyers should verify if this property includes lake rights, as not all Lake Arrowhead properties have them. • Buyers who need reliable high speed internet: The property's location may have limited high-speed internet access. This could be a problem for buyers who work remotely.
Demographics
Area Median Income

$97,034

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Risk Assessment

Risk Analysis

• Unknown Property Age and Condition: The lack of information regarding the year the property was built and the lack of listed upgrades presents a risk. It may require significant maintenance or upgrades which could increase the overall costs. • Fire Hazard: Lake Arrowhead is in a high fire risk area. This could lead to higher insurance premiums and potential property damage. It is important to consider the need for defensible space and fire mitigation measures. • Snow and Weather: The property is subject to significant snowfall and inclement weather which could affect accessibility, require snow removal equipment, and increase the risk of power outages. • Septic Systems: Many properties in the area use septic systems which require inspections and maintenance. A poorly maintained septic system could lead to costly repairs or replacements. • Limited Services: As a relatively remote community, the property has limited access to certain services, such as high-speed internet, specialized medical care, and certain retail stores. • HOA Fees: If the property is part of an HOA, the monthly fees could be substantial and should be factored into the total cost of ownership. The specific rules and regulations of the HOA should also be carefully reviewed. • Vacation Rental Regulations: If the buyer plans to rent the property short-term, there are local regulations and restrictions that could impact rental revenue. Be sure to do a thorough check before assuming rental income.

Financials

Monthly Costs
Market Rent (3 bed)

$2,500

Get a detailed rental estimate on Zillow®

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$778,833

39.1% above list price

Median Price

$675,000

Based on 6 recent sales

Price per Sq.Ft

$423

Comparable Properties

27323 Bernina Drive, Lake Arrowhead, CA 92352
Price: $629,000
Sq.Ft: 1,804
Beds/Baths: 3/3
$/Sq.Ft:
$34913.6%
Sale Date: 1/14/2025
27323 Bernina Drive, Lake Arrowhead, CA 92352
Price: $629,000
Sq.Ft: 1,804
Beds/Baths: 3/3
$/Sq.Ft:
$34913.6%
Sale Date: 10/17/2024
27488 Cedarwood Court, Lake Arrowhead, CA 92352
Price: $665,000
Sq.Ft: 1,800
Beds/Baths: 3/3
$/Sq.Ft:
$36920.3%
Sale Date: 9/6/2024
351 Sunset Drive, Lake Arrowhead, CA 92352
Price: $725,000
Sq.Ft: 1,723
Beds/Baths: 4/3
$/Sq.Ft:
$42137.1%
Sale Date: 9/1/2024
28706 Palisades Drive, Lake Arrowhead, CA 92352
Price: $1,350,000
Sq.Ft: 1,859
Beds/Baths: 3/3
$/Sq.Ft:
$726136.5%
Sale Date: 8/15/2024
27442 Cedarwood Drive, Lake Arrowhead, CA 92352
Price: $675,000
Sq.Ft: 2,069
Beds/Baths: 3/3
$/Sq.Ft:
$3266.3%
Sale Date: 9/21/2024

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