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3503 Castle Rock Road Diamond Bar, CA 91765

3 Beds 2 Baths 1,577 sqft Built 1963

$648,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $410.91
  • 6 Days on Market
  • MLS # : AR20228361
  • Updated Date : 11/02/2020 at 09:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

Skyway Investment Corp.

Listing Agent's Description

Fantastic, Beautiful property on a great location; Homely Home. Desirable corner lot with Sharp Curb Appeal. New automatic garage door. Ideal open floor plan from kitchen to family room. Gorgeous Sitting Window Sill in Dining Room. 0.1 miles away from newly built Diamond Canyon Park in 2016; outdoor gym equipment, multi-level dog trail/track loop, children playground swings and slides, etc. 0.67 miles away from Elementary School 1.46 miles away from Diamond Bar High School. Walking distance to all in great location. LOWEST PRICE IN THE MARKET AT THE DIAMOND BAR SCHOOL DISTRICT, MUST SEE TO APPRECIATE, DON'T BE LATE. Pristine Property Sold AS-IS.

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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
 

$583,200$712,800$648,000

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 -$2,391
Property Tax -$661
Property Insurance -$65
Property Management Fees -$140
CASH FLOW
-$407

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.

$648,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.44%

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$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$177,470

INVESTMENT

$177,470

Down Payment
$162,000
Rehab Estimate
$5,750
Closing Costs
$9,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,391

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,000
Loan Amount $486,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$21,351

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
  • $1.81

    LIST RENT PER SQFT
  • $2,882

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,5004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 3503 Castle Rock Road Diamond Bar, CA 5
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.81
    •  
  • 1963 Los Cerros Drive Diamond Bar, CA 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1962
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.78
    •  
  • 2973 Crooked Creek Drive Diamond Bar, CA 2
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1963
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.90
    •  
  • 2947 Crooked Creek Drive Diamond Bar, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1963
    property image
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.92
    •  
  • 21114 Trigger Lane Diamond Bar, CA 4
    • 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 1964
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.71
    •  
PROPERTY LISTING DETAILS
Yaotian Luo
Skyway Investment Corp.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20228361
Last Updated: 11/02/2020
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