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2365 Canyon Park Drive Diamond Bar, CA 91765

3 Beds 2 Baths 1,038 sqft Built 1973

$489,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $471.10
  • 6 Days on Market
  • MLS # : TR21005795
  • Updated Date : 01/13/2021 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,038 sqft
  • Baths : 2 full
Listing Agent

Century 21 Care

Listing Agent's Description

WALNUT VALLEY UNIFIED School District!!! Beautiful, Cozy, and Bright Open Floor Plan. This Condo is located in South Diamond Bar with Blue Ribbon Award Winning Schools. Walking Distance to Evergreen Elementary and Diamond Bar High School. Quiet & Beautiful Neighborhood. Newer Windows and Sliding Doors with Newer Laminate Wood Flooring boasts 3 Bedrooms and 1.5 Bathrooms. All 3 Bedrooms are Upstairs with a Full Bathroom set conveniently for all. Downstairs Living Room with Open and Bright Floor Plan Facing a Well Landscaped Greenbelt. Newer Remodeled Half Bathroom Downstairs. The Kitchen and Dining Area Are Set Up Perfectly For Entertaining. The Kitchen Features a Well-Maintained Granite Countertop, Stove, and Plenty of Cabinet Space. The Dining Area Leads to a Good Size Backyard. Central AC/Heating System. 2-Car Garage Leads Directly to your Private Patio with Direct Access to Your Home. Laundry Hook-Up is in the Garage. Perfect location in the Community. The HOA has a Community Pool, Spa, and a Club House. Convenient location, close to 57/60 Freeways & SuperMarkets, Shopping, Parks, and other Amenities.

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
Evergreen Elementary School Primary Regular 579 23 8
Chaparral Middle School Middle Regular 1,236 46 10
Diamond Bar High School High Regular 3,050 111 9

Evergreen Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 23
8
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
 

$440,100$537,900$489,000

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 -$1,698
Property Tax -$499
Property Insurance -$52
HOA -$255
Property Management Fees -$106
CASH FLOW
-$451

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.

$489,000

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$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,719

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
  • $2.08

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1603$2,2504$2,3505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2365 Canyon Park Drive Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $2.08
    •  
  • 2246 Shady Hills Drive Diamond Bar, CA 1
    • 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
    •  
  • 21816 Stonepine Street Diamond Bar, CA 3
    • 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,038 Sqft ∙ Built 1973
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $2.17
    •  
  • 1667 S Diamond Bar Boulevard Diamond Bar, CA 4
    • 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
    •  
  • 2330 S Diamond Bar Boulevard Diamond Bar, CA 5
    • 3 beds 2 baths ∙ 1,181 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,181 Sqft ∙ Built 1980
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.20
    •  
PROPERTY LISTING DETAILS
Sheng Wang
Century 21 Care
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21005795
Last Updated: 01/13/2021
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