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24116 Afamado Lane Diamond Bar, CA 91765

3 Beds 2 Baths 1,438 sqft Built 1965

$667,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $464.46
  • 4 Days on Market
  • MLS # : SR20238723
  • Updated Date : 11/13/2020 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,438 sqft
  • Baths : 2 full
Listing Agent

Johnhart Corp.

Listing Agent's Description

Delightful home in Diamond Bar offers 3 bedrooms, 2 bathrooms, and over 1400 square feet! A separate garage greets you on your way to the front door, where you walk into a natural light oasis! The living room is substantially large with a fireplace for those colder nights. In the kitchen you’ll find stylish countertops, stainless steel appliances, wood cabinetry, another sliding glass door/fireplace combination! Plus, a nearby countertop is the perfect setting for a bar or keep as an entertainment center. The bedrooms are decked out in laminate wood finish and provide ample closet space, complete with built-in drawers and shelving. The primary bathroom even contains a walk-in shower. Last but not least, the backyard wraps around the house, delivering a ton of room for guests!

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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
Golden Springs Elementary School Primary Regular 387 14 7
Golden Springs Elementary School Middle Regular 387 14 7
Diamond Ranch High School High Regular 1,791 70 7

Golden Springs Elementary School

  • Education Level: Primary
  • # of students: 387
  • # of teachers: 14
7
GreatSchools Rating

Golden Springs Elementary School

  • Education Level: Middle
  • # of students: 387
  • # of teachers: 14
7
GreatSchools Rating

Diamond Ranch High School

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

$601,110$734,690$667,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,464
Property Tax -$723
Property Insurance -$62
Property Management Fees -$123
CASH FLOW
-$872

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.

$667,900

PROJECTED PRICE

$2,500

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$182,744

INVESTMENT

$182,744

Down Payment
$166,975
Rehab Estimate
$5,750
Closing Costs
$10,019

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,464

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $166,975
Loan Amount $500,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $2,534

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5004$2,6505$2,695
$2,695
RENT COMPS ANALYSIS
  • 24116 Afamado Lane Diamond Bar, CA 3
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.74
    •  
  • 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
    •  
  • 23951 Decorah Road Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.77
    •  
  • 23625 Palomino Drive Diamond Bar, CA 4
    • 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
    •  
  • 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
John Maseredjian
Johnhart Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20238723
Last Updated: 11/13/2020
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