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23928 Decorah Road Diamond Bar, CA 91765

4 Beds 2 Baths 1,942 sqft Built 1965

$700,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $360.45
  • 3 Days on Market
  • MLS # : IV20230680
  • Updated Date : 11/02/2020 at 11:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,942 sqft
  • Baths : 2 full
Listing Agent

Pacific Real Estate Group

Listing Agent's Description

Good location, home needs some repairs. Open living room and cozy fire place. A kitchen with granite countertops, fruit trees in the backyard. Direct access form garage, large lot. Very low HOA. Club members have access to association pool and clubhouse tennis court, basketball court. Excellent neighborhood. Close to freeway 57 and 60. Convenient location.

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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

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
Diamond Point Elementary School Primary Regular 338 12 7
Diamond Point Elementary School Middle Regular 338 12 7
Diamond Ranch High School High Regular 1,791 70 7

Diamond Point Elementary School

  • Education Level: Primary
  • # of students: 338
  • # of teachers: 12
7
GreatSchools Rating

Diamond Point Elementary School

  • Education Level: Middle
  • # of students: 338
  • # of teachers: 12
7
GreatSchools Rating

Diamond Ranch High School

  • Education Level: High
  • # of students: 1,791
  • # of teachers: 70
7
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,583
Property Tax -$758
Property Insurance -$74
HOA -$45
Property Management Fees -$137
CASH FLOW
-$797

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.

$700,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.40%

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$15k

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $2,860

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$2,7504$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 23928 Decorah Road Diamond Bar, CA 4
    • 4 beds 2 baths ∙ 1,942 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,942 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.44
    •  
  • 304 Laspino Lane Diamond Bar, CA 1
    • 4 beds 3 baths ∙ 1,773 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,773 Sqft ∙ Built 1965
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.47
    •  
  • 23615 Maple Springs Drive Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1960
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.49
    •  
  • 402 Bregante Drive Diamond Bar, CA 3
    • 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,970 Sqft ∙ Built 1964
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.40
    •  
  • 529 Bregante Drive Diamond Bar, CA 5
    • 4 beds 3 baths ∙ 1,923 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,923 Sqft ∙ Built 1965
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.53
    •  
PROPERTY LISTING DETAILS
George Jreije
Pacific Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20230680
Last Updated: 11/02/2020
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