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24102 Willow Creek Road Diamond Bar, CA 91765

3 Beds 1 Baths 1,412 sqft Built 1967

$649,900

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $460.27
  • 6 Days on Market
  • MLS # : TR20245116
  • Updated Date : 11/24/2020 at 08:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 1 full
Listing Agent

Louis Baesel

Listing Agent's Description

Beautiful 3 bedroom, 1.75 bathroom home. Crown moulding, Hardwood floors and tile. Remodeled bathrooms. Lovely yard, with a basketball court, covered patio, back yard has new lawn and mature fruit trees. Raised vegetable garden area and low water landscaping in front. Garden Kitchen was a Better Homes and Gardens award winning design with pass through window patio for entertaining. Kitchen refreshed with matching suite of Whirlpool Stainless appliances. High Efficiency HVAC. Tankless water heater. Recently re-piped with PEX. Fireplace. Walking distance to grade school. Access to Diamond Point swim and racquet club.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

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
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,398
Property Tax -$704
Property Insurance -$61
HOA -$36
Property Management Fees -$118
CASH FLOW
-$907

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.

$649,900

PROJECTED PRICE

$2,410

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $2,446

    COMP ESTIMATED VALUE
  • $1.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,4104$2,4505$2,695
$2,695
RENT COMPS ANALYSIS
  • 24102 Willow Creek Road Diamond Bar, CA 3
    • 3 beds 1 baths ∙ 1,412 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,412 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $1.71
    •  
  • 23728 Decorah Road Diamond Bar, CA 1
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1964
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.85
    •  
  • 450 Golden Springs Drive Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1986
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.63
    •  
  • 24356 Sylvan Glen Road Diamond Bar, CA 4
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1986
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.66
    •  
  • 24066 Willow Creek Road Diamond Bar, CA 5
    • 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,503 Sqft ∙ Built 1966
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.79
    •  
PROPERTY LISTING DETAILS
Melanie Baesel-ryan
Louis Baesel
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20245116
Last Updated: 11/24/2020
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