Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

23509 Twin Spring Lane Diamond Bar, CA 91765

3 Beds 2 Baths 1,098 sqft Built 1974

$495,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $450.82
  • 5 Days on Market
  • MLS # : TR21008399
  • Updated Date : 01/16/2021 at 12:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,098 sqft
  • Baths : 2 full
Listing Agent

Prestige Investment

Listing Agent's Description

Location! Location! Location! Great Schools Rating of 10, 10, & 10. Quail Summit Elementary, Chaparral Middle, & Diamond Bar High! Don't miss out on this beautiful two stories condominium unit featured with 3 bedrooms located in great neighborhood, quiet and beautiful. All 3 Bedrooms are Upstairs with a upgraded Full Bathroom set conveniently for all. Downstairs Living Room with Open and Bright Floor Plan , sliding door with direct access to private backyard to attached 2 car garage. upgraded 0.75 Bathroom Downstairs. It's been upgraded with all laminate floors throughout, remodeled kitchen with Granite counter tops. Nice size bedrooms with upgraded master bedroom closet. Upgraded dual panel windows for energy saving. Community pool, spa and club house. Professional landscaping throughout the whole complex. Easy access to 57 and 60 freeways. Conveniently close to schools, shopping centers, restaurants and supermarkets. Walking distance to hiking trail. Community features pool, playground, basketball court! Nothing about this home was overlooked and it will not disappoint and will not last long.

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
Quail Summit Elementary School Primary Regular 652 23 10
Chaparral Middle School Middle Regular 1,236 46 10
Diamond Bar High School High Regular 3,050 111 9

Quail Summit Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 23
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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,719
Property Tax -$505
Property Insurance -$54
HOA -$263
Property Management Fees -$106
CASH FLOW
-$487

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.

$495,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.97

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,1604$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 23509 Twin Spring Lane Diamond Bar, CA 3
    • 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,098 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.97
    •  
  • 1306 S Diamond Bar Boulevard Diamond Bar, CA 1
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1974 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1974
    LEASED 12/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.90
    •  
  • 2246 Shady Hills Drive Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1972
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.93
    •  
  • 23518 Twin Spring Lane Diamond Bar, CA 4
    • 3 beds 2 baths ∙ 1,103 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,103 Sqft ∙ Built 1974
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.99
    •  
  • 1667 S Diamond Bar Boulevard Diamond Bar, CA 5
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1985
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $2.02
    •  
PROPERTY LISTING DETAILS
Liping Cai
Prestige Investment
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21008399
Last Updated: 01/16/2021
BESbswy