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23703 Silver Spray Drive Diamond Bar, CA 91765

3 Beds 2 Baths 1,667 sqft Built 1963

$769,900

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
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).

SEE MORE

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

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
 

$692,910$846,890$769,900

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

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

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,774

INVESTMENT

$209,774

Down Payment
$192,475
Rehab Estimate
$5,750
Closing Costs
$11,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,674

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,475
Loan Amount $577,425
See What Happens When You Reinvest Cash Flow

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
$2,600
1$2,6002$2,6503$2,6904$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 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
Saiful Islam
Countrywide Realty & Mortgage
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21025580
Last Updated: 02/08/2021
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