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24341 Sylvan Glen Road Diamond Bar, CA 91765

3 Beds 3 Baths 1,628 sqft Built 1986

$675,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $414.62
  • 5 Days on Market
  • MLS # : SB20254366
  • Updated Date : 12/12/2020 at 11:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,628 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trec Lending Inc.

Listing Agent's Description

This is a beautiful home with a large backyard. 2 car garage, 3 bedrooms with 2 bathrooms upstairs and one down off the family room. The family room has a very nice fire pl with sliding doors that lead out to a large backyard which includes a concrete patio. the family kitchen connects both the family room and kitchen. The kitchen has built-in stainless and recessed lights. this home has a spacious formal dining room just off the living room. This Diamond Bar jewel sits on slightly rolling hills and a very prestigious area and well-kept neighborhood. The neighborhood has a beautiful park within walking distance from the house. Great family home! You want to see this one! Guaranteed this won't be on the market long. The price is right!

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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
 

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

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,490
Property Tax -$728
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$774

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

$2,640

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$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

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

1.08

YEARS SAVED

$3,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,650

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3503$2,3804$2,4505$2,640
$2,640
RENT COMPS ANALYSIS
  • 24341 Sylvan Glen Road Diamond Bar, CA 5
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.62
    •  
  • 510 Golden Springs Drive Diamond Bar, CA 1
    • 3 beds 4 baths ∙ 1,438 Sqft ∙ Built 1982 3 beds 4 baths ∙ 1,438 Sqft ∙ Built 1982
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.56
    •  
  • 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
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.63
    •  
  • 24131 High Knob Road Diamond Bar, CA 3
    • 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1985
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.66
    •  
  • 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
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.66
    •  
PROPERTY LISTING DETAILS
Ray Bennett
Trec Lending Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20254366
Last Updated: 12/12/2020
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