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1238 S Diamond Bar Boulevard #C Diamond Bar, CA 91765

3 Beds 2 Baths 1,010 sqft Built 1973

$465,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1973
  • Price/Sqft : $460.40
  • 13 Days on Market
  • MLS # : PW20224061
  • Updated Date : 11/01/2020 at 10:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,010 sqft
  • Baths : 1 full , 1 half
Listing Agent

Lifetime Realty Inc

Listing Agent's Description

Highly desirable 3 bedroom home now available in Diamond Bar. Within the award winning Walnut Valley school district and conveniently located in the heart of the community. Spacious living room adjacent the large nicely refinished kitchen. Half bathroom conveniently located on the ground level. Large comfortable floorpan that almost feels like a single family home. One of the best features is the huge second story balcony perfect for relaxing or entertaining. Interior laundry. Attached garage access. Front patio has a very secluded and quiet feeling leaving you lots to love about this home. A must-see - 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)
  • 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]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)
  • 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 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Diamond Bar

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650k700k750k800k850kPrice in $199k856k

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

Neighborhood: Diamond Bar

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21800200022002400260028003000320034003600Rent in $17843697

* 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
Quail Summit Elementary School Primary Regular 652 23 10
Chaparral Middle School Middle Regular 1,236 46 10
Diamond Bar High School High Regular 3,050 111 9

Quail Summit Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 23
10
GreatSchools Rating

Chaparral Middle School

  • Education Level: Middle
  • # of students: 1,236
  • # of teachers: 46
10
GreatSchools Rating

Diamond Bar High School

  • Education Level: High
  • # of students: 3,050
  • # of teachers: 111
9
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,716
Property Tax -$475
Property Insurance -$52
HOA -$195
Property Management Fees -$99
CASH FLOW
-$606

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.

$465,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.56%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.05%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $1,985

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9303$2,1004$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1238 S Diamond Bar Boulevard Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.91
    •  
  • 1306 S Diamond Bar Boulevard Diamond Bar, CA 1
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1974 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1974
    property image
    LEASED 12/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.90
    •  
  • 1324 S Diamond Bar Boulevard Diamond Bar, CA 3
    • 3 beds 2 baths ∙ 1,079 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,079 Sqft ∙ Built 1977
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.95
    •  
  • 23518 Twin Spring Lane Diamond Bar, CA 4
    • 3 beds 2 baths ∙ 1,103 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,103 Sqft ∙ Built 1974
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.99
    •  
  • 1667 S Diamond Bar Boulevard Diamond Bar, CA 5
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1985
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.02
    •  
PROPERTY LISTING DETAILS
Erica Hall
Lifetime Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20224061
Last Updated: 11/01/2020
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