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23545 Decorah Road Diamond Bar, CA 91765

4 Beds 2 Baths 1,503 sqft Built 1964

$729,999

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $485.69
  • 3 Days on Market
  • MLS # : IV21040510
  • Updated Date : 02/26/2021 at 20:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,503 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful and completely remodeled home located within the Dimond Point Club community. You will be immediately charmed by the beautiful tree lined streets as you pull into the long private driveway. The home features 4 bedrooms and 2 fully remodeled bathrooms with the master conveniently located on the opposite side of the other 3 rooms. The amazing kitchen is all new with subway tile back splashes, new gentle close cabinetry, quartz counter tops and stainless-steel appliances. The remodeled Master Bathroom features dual his/hers sinks, tile shower and quartz counter tops. In addition to the fabulous interior finishes the home offers city views, a fire-pit with wood decking and a covered patio. It’s a turnkey wonder inside and out perfect for entertaining or a quiet place to destress from the pace of life.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (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)
  • 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]
  • 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)

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
 

$656,999$802,999$729,999

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,536
Property Tax -$791
Property Insurance -$63
HOA -$36
Property Management Fees -$131
CASH FLOW
-$877

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.

$729,999

PROJECTED PRICE

$2,680

PROJECTED RENT

0.37%

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$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,536

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,500
Loan Amount $547,499
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $2,664

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6003$2,6804$2,6955$2,750
$2,750
RENT COMPS ANALYSIS
  • 23545 Decorah Road Diamond Bar, CA 3
    • 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.78
    •  
  • 215 N Palo Cedro Drive Diamond Bar, CA 1
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1969
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.87
    •  
  • 136 Red Cloud Drive Diamond Bar, CA 2
    • 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1973
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.75
    •  
  • 24066 Willow Creek Road Diamond Bar, CA 4
    • 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1966
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.79
    •  
  • 23641 Palomino Drive Diamond Bar, CA 5
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1961
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.68
    •  
PROPERTY LISTING DETAILS
Jose Diaz
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21040510
Last Updated: 02/26/2021
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