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318 S Rock River Road Diamond Bar, CA 91765

3 Beds 2 Baths 1,577 sqft Built 1973

$660,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $418.52
  • 6 Days on Market
  • MLS # : PW21017114
  • Updated Date : 01/28/2021 at 09:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

John L Scott Premier

Listing Agent's Description

Welcome Home!! This Diamond Bar beauty has all you can ask for in a home. A single story with 3 bedrooms, 2 bathrooms, and an open floor plan. A formal living room with a fireplace and a formal dining room welcome you into this incredible residence. Hard wood floors throughout the common areas, crown molding, recessed lighting, shutters and double pane windows are a few of the highlights in this beautiful property. The open floor plan is complimented by the natural lighting allowed in by the windows stretching across the back of the home into your kitchen, dining, and great room. The 3 bedrooms are spacious and have upgraded carpet in each one. The backyard is lined by mature fruit trees and the concrete patio is a nice place to relax and enjoy your new home.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Lorbeer Middle School Middle Regular 754 29 6
Diamond Ranch High School High Regular 1,791 70 7
Lorbeer Middle School Middle Unknown NA

Lorbeer Middle School

  • Education Level: Middle
  • # of students: 754
  • # of teachers: 29
6
GreatSchools Rating

Diamond Ranch High School

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

Lorbeer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$594,000$726,000$660,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,292
Property Tax -$715
Property Insurance -$65
Property Management Fees -$126
CASH FLOW
-$619

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.

$660,000

PROJECTED PRICE

$2,580

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-$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$180,650

INVESTMENT

$180,650

Down Payment
$165,000
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $165,000
Loan Amount $495,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $2,634

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,6003$2,6504$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 318 S Rock River Road Diamond Bar, CA 1
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.64
    •  
  • 136 Red Cloud Drive Diamond Bar, CA 2
    • 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,489 Sqft ∙ Built 1973
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.75
    •  
  • 23625 Palomino Drive Diamond Bar, CA 3
    • 4 beds 3 baths ∙ 1,620 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,620 Sqft ∙ Built 1961
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.64
    •  
  • 335 S Rock River Road Diamond Bar, CA 4
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1970
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.61
    •  
  • 23641 Palomino Drive Diamond Bar, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Jason Stuck
John L Scott Premier
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21017114
Last Updated: 01/28/2021
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