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24166 Silver Spray Drive Diamond Bar, CA 91765

3 Beds 1 Baths 1,752 sqft Built 1965

$675,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $385.27
  • 12 Days on Market
  • MLS # : PV20223162
  • Updated Date : 10/27/2020 at 22:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 1 full
Listing Agent

West Shores Realty, Inc.

Listing Agent's Description

Wonderful pool home in a desirable neighborhood of Diamond Bar. Features 3 bedrooms, remodeled open kitchen with dining area, living room with cozy fireplace and huge bonus room/family room. Other highlights include newer tile roof and newer water heater. 2 car garage with ample storage space and has direct access to the house. Large sparkling pool and plenty of grasss area in backyard. Centrally located near restaurants, parks, shopping centers, universities and easy access to 57, 60, and 10 freeways.

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
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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,490
Property Tax -$731
Property Insurance -$69
Property Management Fees -$127
CASH FLOW
-$818

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.

$675,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.39%

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$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $2,729

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$2,7504$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 24166 Silver Spray Drive Diamond Bar, CA 1
    • 3 beds 1 baths ∙ 1,752 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,752 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.48
    •  
  • 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
    •  
  • 1017 Twin Canyon Lane Diamond Bar, CA 3
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1968
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.46
    •  
  • 23641 Palomino Drive Diamond Bar, CA 4
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1961
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.68
    •  
  • 580 Charmingdale Road Diamond Bar, CA 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1964
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.60
    •  
PROPERTY LISTING DETAILS
Glenna Leung
West Shores Realty, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PV20223162
Last Updated: 10/27/2020
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