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21832 Paint Brush Lane Diamond Bar, CA 91765

4 Beds 3 Baths 2,268 sqft Built 1978

$799,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $352.29
  • 5 Days on Market
  • MLS # : 21685426
  • Updated Date : 01/29/2021 at 14:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,268 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices California

Listing Agent's Description

Large two story home with so much potential, located on a CUL-DE-SAC in prime Diamond Bar! You will love the beautiful canyon VIEWS that this hillside street provides! FIXER OPPORTUNITY features 4 bedrooms & 2.5 baths with both living & family rooms- a very functional floorplan with large rooms, great for entertaining. The main bedroom suite is huge and features a dressing area with vanity space, 2 closets (1 walk-in) and a fireplace. The 3rd & 4th bedrooms are separated by a partition which can be open to make one large bedroom, or closed to create two separate bedrooms with their own entry doors and closets. The just-right sized backyard has a wooden trellis covered concrete patio, fruit trees, and the most incredible VIEWS! One of the most convenient spots in Diamond Bar with easy access to the 57 & 60 freeways, shopping, restaurants and schools (Walnut!). This is a fantastic opportunity for someone to get into this coveted neighborhood and remodel the home to their desires.

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)
  • 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)
  • 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)

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
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$2,775
Property Tax -$816
Property Insurance -$82
Property Management Fees -$161
CASH FLOW
-$553

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.

$799,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.41%

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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$16,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $3,323

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,280
1$3,2802$3,3503$3,4004$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 21832 Paint Brush Lane Diamond Bar, CA 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.45
    •  
  • 1730 Silver Rain Drive Diamond Bar, CA 2
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1979
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.44
    •  
  • 1952 Evergreen Springs Dr Diamond Bar, CA 3
    • 5 beds 3 baths ∙ 2,468 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,468 Sqft ∙ Built 1963
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.38
    •  
  • 21801 Heatherlane Court Diamond Bar, CA 4
    • 5 beds 3 baths ∙ 2,334 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,334 Sqft ∙ Built 1977
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.50
    •  
  • 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
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.54
    •  
PROPERTY LISTING DETAILS
Cassandra Reyes
Berkshire Hathaway Homeservices California
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21685426
Last Updated: 01/29/2021
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