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2434 Diamond Drive Chino Hills, CA 91709

4 Beds 3 Baths 2,121 sqft Built 1987

$835,000

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $393.68
  • 5 Days on Market
  • MLS # : CV20233012
  • Updated Date : 11/12/2020 at 10:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,121 sqft
  • Baths : 3 full
Listing Agent

Shear Realty

Listing Agent's Description

Centrally located in desirable North Chino Hills, this gem is waiting for a new owner. Ideally situated on a large lot within a cul de sac, spacious living is yours with proximity to major shopping, freeways, and excellent schools. Upon entry, a bright and sunny living space adorned with large windows and vaulted ceilings beckons. As you head into the heart of the home, a well-appointed kitchen with stainless steel appliances, granite countertops, dine-in breakfast area, and family room with fireplace will serve as a backdrop for all of your gatherings and celebrations. Continue the festivities onto the huge covered patio with built-in bbq as you enjoy the sparkling in-ground pool and spa. With the expansive backyard, there is plenty of space to create a personal oasis. As you continue back through the house, you will find three upgraded bathrooms and plantation shutters throughout. Do not hesitate to make this your dream home today.

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)
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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)
  • 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]
  • 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)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k727k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822735

* 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
Eagle Canyon Elementary School Primary Regular 573 21 8
Canyon Hills Junior High School Middle Regular 1,163 40 9
Ruben S. Ayala High School High Regular 2,606 98 10

Eagle Canyon Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 21
8
GreatSchools Rating

Canyon Hills Junior High School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 40
9
GreatSchools Rating

Ruben S. Ayala High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 98
10
GreatSchools Rating
 

$751,500$918,500$835,000

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$3,081
Property Tax -$783
Property Insurance -$79
Property Management Fees -$173
CASH FLOW
-$1,185

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.

$835,000

PROJECTED PRICE

$2,930

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$20k-$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$227,025

INVESTMENT

$227,025

Down Payment
$208,750
Rehab Estimate
$5,750
Closing Costs
$12,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,081

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $208,750
Loan Amount $626,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,922

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8004$2,9005$2,930
$2,930
RENT COMPS ANALYSIS
  • 2434 Diamond Drive Chino Hills, CA 5
    • 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $1.38
    •  
  • 2324 Wandering Ridge Drive Chino Hills, CA 1
    • 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 1987
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.46
    •  
  • 2512 Cottonwood Chino Hills, CA 2
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1984
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.34
    •  
  • 2373 Madrugada Drive Chino Hills, CA 3
    • 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1989
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.32
    •  
  • 2266 Norte Vista Drive Chino Hills, CA 4
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1987
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.39
    •  
PROPERTY LISTING DETAILS
John Hess
Shear Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20233012
Last Updated: 11/12/2020
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