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2950 Castle Rock Road Diamond Bar, CA 91765

4 Beds 2 Baths 1,480 sqft Built 1962

$658,800

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1962
  • Price/Sqft : $445.14
  • 9 Days on Market
  • MLS # : CV20202512
  • Updated Date : 10/31/2020 at 12:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Access 360 Realty & Financial

Listing Agent's Description

Gorgeous, Turnkey, single level, spacious 4 bedroom, 2 bathroom Diamond Bar pool home! No connecting neighbor home in rear. Perfect location close to shopping, amenities and award winning, highly prized Walnut Valley School District and easy freeway access. Gorgeous inside with lots of upgrades including quartz counters in kitchen, matching high-end LG studio appliances including fridge, stove, built in microwave and stainless steel sink. Newer tile and laminate flooring throughout. Newer windows throughout with new bay windows in the den/dining area. Ceiling fans throughout. Fireplace in den. Beautiful backyard ideal for entertaining or just relaxing with pool and spa and low maintenance decking, BBQ island, bar area and lots of shade umbrellas and seating. Fruit trees. Attached 2 car garage and lots of driveway parking.

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
Castle Rock Elementary School Primary Regular 605 23 7
South Pointe Middle School Middle Regular 982 40 9
Diamond Bar High School High Regular 3,050 111 9

Castle Rock Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 23
7
GreatSchools Rating

South Pointe Middle School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 40
9
GreatSchools Rating

Diamond Bar High School

  • Education Level: High
  • # of students: 3,050
  • # of teachers: 111
9
GreatSchools Rating
 

$592,920$724,680$658,800

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,431
Property Tax -$672
Property Insurance -$63
Property Management Fees -$140
CASH FLOW
-$456

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.

$658,800

PROJECTED PRICE

$2,850

PROJECTED RENT

0.43%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$180,332

INVESTMENT

$180,332

Down Payment
$164,700
Rehab Estimate
$5,750
Closing Costs
$9,882

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $164,700
Loan Amount $494,100
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$18,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $2,845

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5504$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 2950 Castle Rock Road Diamond Bar, CA 5
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.93
    •  
  • 2973 Crooked Creek Drive Diamond Bar, CA 1
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.90
    •  
  • 2947 Crooked Creek Drive Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1963
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.92
    •  
  • 2925 Crooked Creek Drive Diamond Bar, CA 3
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.98
    •  
  • 21368 Hidden Pines Drive Diamond Bar, CA 4
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1962
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.89
    •  
PROPERTY LISTING DETAILS
Henry Pourzand
Access 360 Realty & Financial
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20202512
Last Updated: 10/31/2020
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