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23465 Stirrup Drive Diamond Bar, CA 91765

5 Beds 3 Baths 2,334 sqft Built 1974

$850,000

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $364.18
  • 3 Days on Market
  • MLS # : TR21029641
  • Updated Date : 02/12/2021 at 09:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,334 sqft
  • Baths : 3 full
Listing Agent

Ehomes

Listing Agent's Description

Fantastic opportunity to create your dream home. Highly sought after 5 bedroom floorplan in Diamond Bar with city and mountain VIEWS! Formal living room has soaring 2 story ceilings, cozy fireplace and opens to formal dining room. Kitchen, family room and main floor bedroom all enjoy spectacular views. Kitchen offers warm oak cabinets, dark granite counter tops and stainless steel appliances. Cabinets extend into family room to create a built in bar and pantry. Main floor bedroom and bathroom are perfect for guest or extended family. Head upstairs to 4 additional bedrooms. Two of the upstairs bedrooms also have amazing views. Master suite has panoramic mountain and city light views and a private bathroom. 5th bedroom is extra large and can be used as a game room or 2nd master bedroom with a large balcony extending the length of the room! Backyard is full of potential with a large lot measuring in at 15,000+ sqft. Many of the surrounding neighbors have added a deck to expand the yard and take full advantage of the spectacular views. This home is located on a cul de sac and within a short distance to award winning schools, fine dining and great shopping.

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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
Lorbeer Middle School Middle Regular 754 29 6
Diamond Ranch High School High Regular 1,791 70 7
Lorbeer Middle School Middle Unknown NA

Lorbeer Middle School

  • Education Level: Middle
  • # of students: 754
  • # of teachers: 29
6
GreatSchools Rating

Diamond Ranch High School

  • Education Level: High
  • # of students: 1,791
  • # of teachers: 70
7
GreatSchools Rating

Lorbeer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$765,000$935,000$850,000

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$2,952
Property Tax -$921
Property Insurance -$83
Property Management Fees -$165
CASH FLOW
-$761

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.

$850,000

PROJECTED PRICE

$3,360

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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,360

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $3,314

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$3,080
1$3,0802$3,2003$3,2004$3,3605$3,400
$3,400
RENT COMPS ANALYSIS
  • 23465 Stirrup Drive Diamond Bar, CA 4
    • 5 beds 3 baths ∙ 2,334 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,334 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $3,360
    • $1.44
    •  
  • 23303 Stirrup Drive Diamond Bar, CA 1
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1973
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.33
    •  
  • 674 Radbury Place Diamond Bar, CA 2
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1990
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.50
    •  
  • 23042 Rio Lobos Road Diamond Bar, CA 3
    • 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 1986
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 549 Charmingdale Road Diamond Bar, CA 5
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1964 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 1964
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.42
    •  
PROPERTY LISTING DETAILS
Vanessa O'neill
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21029641
Last Updated: 02/12/2021
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