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21141 Lycoming Street Diamond Bar, CA 91789

4 Beds 3 Baths 1,629 sqft Built 1977

$788,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $483.73
  • 7 Days on Market
  • MLS # : WS21000953
  • Updated Date : 01/09/2021 at 17:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,629 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax My Home

Listing Agent's Description

Beautiful 2 story home located in the desirable Walnut school district. This beautiful property has 4 bedrooms and 2.5 baths, large family room with cozy fireplace, master bathroom with granite counter, dual sinks & walk in closet, a large pool and yard with covered patio. Easy access to 60 freeway, shopping, parks and located in a quiet neighborhood. Must see!

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
Walnut Elementary School Primary Regular 556 22 8
South Pointe Middle School Middle Regular 982 40 9
Walnut High School High Regular 2,754 112 10

Walnut Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 22
8
GreatSchools Rating

South Pointe Middle School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 40
9
GreatSchools Rating

Walnut High School

  • Education Level: High
  • # of students: 2,754
  • # of teachers: 112
10
GreatSchools Rating
 

$709,200$866,800$788,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,737
Property Tax -$745
Property Insurance -$66
Property Management Fees -$143
CASH FLOW
-$772

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.

$788,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.37%

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

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$214,570

INVESTMENT

$214,570

Down Payment
$197,000
Rehab Estimate
$5,750
Closing Costs
$11,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,000
Loan Amount $591,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $2,578

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,8003$2,9004$2,9205$3,000
$3,000
RENT COMPS ANALYSIS
  • 21141 Lycoming Street Diamond Bar, CA 4
    • 4 beds 3 baths ∙ 1,629 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,629 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.79
    •  
  • 20460 Flintgate Drive Walnut, CA 1
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1966
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.54
    •  
  • 1747 Autumnglow Drive Diamond Bar, CA 2
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1977
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.64
    •  
  • 21006 Parkridge Drive Walnut, CA 3
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1989
    property image
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.60
    •  
  • 800 Dryander Drive Walnut, CA 5
    • 4 beds 1 baths ∙ 1,941 Sqft ∙ Built 1980 4 beds 1 baths ∙ 1,941 Sqft ∙ Built 1980
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.55
    •  
PROPERTY LISTING DETAILS
Ken Huynh
Remax My Home
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21000953
Last Updated: 01/09/2021
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