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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $461.85
- 8 Days on Market
- MLS # : OC21025580
- Updated Date : 02/08/2021 at 09:02
CONSTRUCTION
- Beds : 3
- Floor Size : 1,667 sqft
- Baths : 2 full
Listing Agent
Countrywide Realty & Mortgage
Listing Agent's Description
!!!!! MUST SEE !!!!! ***** COMPLETELY REMODELED, DREAM POOL HOME ON CUL-DE-SAC, WITH PANORAMIC MOUNTAIN VIEW, HUGE LOT IN SAFE, QUIET AREA OF DIAMOND BAR, CALIFORNIA *****. TURNKEY MOVING READY FOR IMMEDIATE OCCUPANCY. 3 Bed, 1.75 Bath, Central A/C & Heating, Open Floor Plan, Fresh Paint (In & Out), New Flooring, 2 Car Attached Garage & 6 Driveway, RV Parking. Light & Bright Living Room with Cathedral Ceiling, Recessed Lighting, New Fans (Remote Controlled) & Dual Sided Fireplace. Family Rm with Stunning Pool View. Brand New Kitchen (Pool View) with Lots of Wooden Cabinets, Name Brand Appliances (Gas Cooktop, Dishwasher, Hood, Garbage Disposal), Quartz Countertops, Recessed Lighting, Separate Dining & Breakfast area. New Bath Rooms with Vanity (Quartz Countertops), Lighting & Large Mirrors. Spacious Master Suite (Pool View) with Attached Bath, Large Mirror Sliding Closet Door, Recessed Lighting. Laundry Hook-ups inside Garage with Gas Line. New Double-Pane Glass Windows & Sliding Patio Glass Door. Upgraded Private Pool with Panoramic Mountain View on Huge Backyard. New Water Heater. Located Walking Distance to Schools, Grocery Stores, Shops, Restaurants and Easy Access to FWYs (I-60 & I-57).
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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
* 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 | $2,690 |
| EXPENSES | Loan Payment | -$2,674 |
| Property Tax | -$834 | |
| Property Insurance | -$67 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
-$1,017
|
||
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.
$769,900
PROJECTED PRICE
$2,690
PROJECTED RENT
0.35%
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
$209,774
LOAN DETAILS
$2,674
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $192,475 |
| Loan Amount | $577,425 |
0.33
YEARS SAVED
$448
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,690
LIST RENT -
$1.61
LIST RENT PER SQFT
-
$2,734
COMP ESTIMATED VALUE -
$1.64
COMP AVG. RENT PER SQFT
Comps Range
-
23703 Silver Spray Drive Diamond Bar, CA 3
- 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $2,690
- $1.61
-
136 Red Cloud Drive Diamond Bar, CA 1
- 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1973
LEASED 05/16/20- Rent
- Rent Per SQFT
- $2,600
- $1.75
-
23625 Palomino Drive Diamond Bar, CA 2
- 4 beds 3 baths ∙ 1,620 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,620 Sqft ∙ Built 1961
LEASED 02/19/20- Rent
- Rent Per SQFT
- $2,650
- $1.64
-
23615 Maple Springs Drive Diamond Bar, CA 4
- 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1960
LEASED 08/27/20- Rent
- Rent Per SQFT
- $2,700
- $1.49
-
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
LEASED 09/01/20- Rent
- Rent Per SQFT
- $2,750
- $1.68
PROPERTY LISTING DETAILS
Countrywide Realty & Mortgage
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21025580
Last Updated: 02/08/2021
