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2055 Shannon Ct. #1 Diamond Bar, CA 91765

4 Beds 3 Baths 1,757 sqft Built 1989

$829,999

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $472.40
  • 5 Days on Market
  • MLS # : TR20264792
  • Updated Date : 03/05/2021 at 18:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,757 sqft
  • Baths : 3 full
Listing Agent

Golden Elite Co.

Listing Agent's Description

charming model like condo located in south Diamond Bar area with Award winning Walnut valley unified school district, quiet cul-de-sac, convenient access to public transportation and 60, 57 freeway, completely upgraded with high quality materials and workmanship, two full bedrooms downstairs with private entry and bathroom, newer wood laminated flooring , real wood for upstairs and upstairs bedrooms and modern light fixtures, lovely designer details, high ceiling , all rooms aha s recessed light, office suite can be 5th bedroom, 2 -car garage, total 3 full bathroom. ample counter/cabinet spaces. New dishwasher, stove, AC, save water toilets easy access to shopping center, parks, schools, restaurants. 286 bus goes to H-mart, Walmart, and high school. Pool & spa in the community, turn key move in condition, A must see to appreciate. Diamond bar high school 10 Everygreen elementary school 9 South point middle school 9 Chaparral middle school 9

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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 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
Evergreen Elementary School Primary Regular 579 23 8
Chaparral Middle School Middle Regular 1,236 46 10
Diamond Bar High School High Regular 3,050 111 9

Evergreen Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 23
8
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
 

$746,999$912,999$829,999

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,883
Property Tax -$845
Property Insurance -$70
HOA -$380
Property Management Fees -$157
CASH FLOW
-$1,134

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.

$829,999

PROJECTED PRICE

$3,200

PROJECTED RENT

0.39%

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

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$225,700

INVESTMENT

$225,700

Down Payment
$207,500
Rehab Estimate
$5,750
Closing Costs
$12,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,883

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,500
Loan Amount $622,499
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,211

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6503$3,0954$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2055 Shannon Ct. #1 Diamond Bar, CA 4
    • 4 beds 3 baths ∙ 1,757 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,757 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.82
    •  
  • 22479 Falconburn Way Diamond Bar, CA 1
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1977
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.81
    •  
  • 22502 Cello Drive Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1979
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.81
    •  
  • 1510 Blenbury Drive Diamond Bar, CA 3
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $1.93
    •  
  • 22311 Birds Eye Drive Diamond Bar, CA 5
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1979
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.76
    •  
PROPERTY LISTING DETAILS
Harry Gao
Golden Elite Co.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20264792
Last Updated: 03/05/2021
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