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23132 Rio Lobos Road Diamond Bar, CA 91765

3 Beds 2 Baths 1,449 sqft Built 1984

$718,900

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $496.14
  • 5 Days on Market
  • MLS # : CV20233205
  • Updated Date : 11/07/2020 at 14:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,449 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Sharp upgraded single story home in Walnut School District. Recent upgrades: Full replacement of heating and air conditioning system including air ducts, Laminate flooring & baseboards throughout, Interior & exterior paint, Bathroom cabinetry, sinks, faucets, and vanities in both bathrooms, Kitchen appliances: oven/stovetop & microwave oven, Recessed lighting entire house. Custom neutral wall colors. Great floorplan: Formal living room & dining room, family room with fireplace, open kitchen, Spacious master suite & secondary bedrooms, Vaulted ceilings make this home feel even roomier. Very light and bright throughout. Spacious backyard with plenty of room for children to play. Great area of Diamond Bar. Close and convenient to everything. Award Winning Walnut School District.

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
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
 

$647,010$790,790$718,900

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,652
Property Tax -$734
Property Insurance -$62
Property Management Fees -$123
CASH FLOW
-$1,061

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.

$718,900

PROJECTED PRICE

$2,510

PROJECTED RENT

0.35%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$196,259

INVESTMENT

$196,259

Down Payment
$179,725
Rehab Estimate
$5,750
Closing Costs
$10,784

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,652

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $179,725
Loan Amount $539,175
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.73

    LIST RENT PER SQFT
  • $2,648

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5103$2,5504$2,8505$3,100
$3,100
RENT COMPS ANALYSIS
  • 23132 Rio Lobos Road Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.73
    •  
  • 1118 Cleghorn Drive Diamond Bar, CA 1
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 1979
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.81
    •  
  • 23670 Gold Nugget Avenue Diamond Bar, CA 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 1979
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.69
    •  
  • 1003 Clear Creek Canyon Drive Diamond Bar, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1978
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.90
    •  
  • 1254 Clear Creek Canyon Drive Diamond Bar, CA 5
    • 4 beds 3 baths ∙ 1,623 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,623 Sqft ∙ Built 1984
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.91
    •  
PROPERTY LISTING DETAILS
The Scalio Team
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20233205
Last Updated: 11/07/2020
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