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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Diamond Bar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$136,925
LOAN DETAILS
$1,719
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $123,750 |
| Loan Amount | $371,250 |
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
-
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
Prestige Investment
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21008399
Last Updated: 01/16/2021
