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1423 Pecan Grove Drive Diamond Bar, CA 91765

5 Beds 2 Baths 2,447 sqft Built 1973

$869,000

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $355.13
  • 5 Days on Market
  • MLS # : PW21020462
  • Updated Date : 02/12/2021 at 10:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,447 sqft
  • Baths : 2 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

This is the life! Enjoy living in the hills of Diamond Bar with miles of walkways and trails, all the shopping and dining you could ask for, and some of the highest rated schools in the state. This spacious and inviting open floor plan offers a sought-after first floor bedroom and bathroom, perfect for multi-generational living or a large family. The living room is complemented by soaring cathedral ceilings, a warm brick fireplace, and recessed lighting. The upgraded flooring includes hickory engineered wood and tile. The grand kitchen can accommodate many cooks, and features Ceasarstone countertops, center island, garden window, stainless steel appliances, pot filler faucet, and an adjoining family room with wet bar and pool views. Some of the many upgrades include newer roof, central heat and air conditioning, dual pane windows, and recessed lighting. The large lot also boasts an expansive covered patio with a view of the pool and spa. The location offers central access to Orange and Los Angeles Counties as well as the Inland Empire. The highly rated schools include Maple Hill Elementary, Chaparral Middle and Diamond Bar High School. You’ll go nuts for your new home on Pecan Grove Drive.

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)
  • 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
Maple Hill Elementary School Primary Regular 523 19 10
Chaparral Middle School Middle Regular 1,236 46 10
Diamond Bar High School High Regular 3,050 111 9

Maple Hill Elementary School

  • Education Level: Primary
  • # of students: 523
  • # of teachers: 19
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
 

$782,100$955,900$869,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$3,018
Property Tax -$887
Property Insurance -$86
Property Management Fees -$169
CASH FLOW
-$720

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.

$869,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$236,035

INVESTMENT

$236,035

Down Payment
$217,250
Rehab Estimate
$5,750
Closing Costs
$13,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,018

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $217,250
Loan Amount $651,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$11,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $3,420

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,980
1$2,9802$3,3003$3,3504$3,4405$3,500
$3,500
RENT COMPS ANALYSIS
  • 1423 Pecan Grove Drive Diamond Bar, CA 4
    • 5 beds 2 baths ∙ 2,447 Sqft ∙ Built 1973 5 beds 2 baths ∙ 2,447 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $1.41
    •  
  • 1546 Meadow Glen Road Diamond Bar, CA 1
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 1977
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.32
    •  
  • 22603 Hickory Nut Lane Diamond Bar, CA 2
    • 5 beds 3 baths ∙ 2,557 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,557 Sqft ∙ Built 1973
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.29
    •  
  • 1730 Silver Rain Drive Diamond Bar, CA 3
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.44
    •  
  • 21841 S Paint Brush Lane Diamond Bar, CA 5
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1978
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.54
    •  
PROPERTY LISTING DETAILS
Cristal Drake
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21020462
Last Updated: 02/12/2021
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