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412 Laspino Lane Diamond Bar, CA 91765

3 Beds 2 Baths 1,740 sqft Built 1969

$699,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $402.24
  • 5 Days on Market
  • MLS # : IG21023154
  • Updated Date : 02/05/2021 at 11:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

New Venture Realty

Listing Agent's Description

COME SEE THIS 3 BEDROOM 2 BATHROOM HOME ON A CORNER LOT IN BEAUTIFUL DIAMOND BAR. THIS PROPERTY HAS SOLAR PANELS THAT ARE PAID FOR AND THE MONTHLY BILL IS ONLY A COUPLE DOLLARS A MONTH. THIS HOUSE HAS A BEAUTIFUL 3/4 PANARAMIC VIEWS. THIS PROPERTY IS A MUST SEE!!!! THE PROPERTY INSIDE IS DATED BUT MAINTAINED AND THE OUTSIDE IS IN EXCELLENT CONDITION. THIS PROPERTY HAS BRAND NEW WINDOWS AND BEAUTIFUL LANDSCAPING. THIS IS A GREAT COMMUNITY TO RAISE YOUR KIDS. VERY QUITE AND PEACEFUL NEIGHBORHOOD.

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
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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,431
Property Tax -$758
Property Insurance -$69
Property Management Fees -$129
CASH FLOW
-$757

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.

$699,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.38%

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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $2,684

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6303$2,6954$2,7005$2,950
$2,950
RENT COMPS ANALYSIS
  • 412 Laspino Lane Diamond Bar, CA 2
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.51
    •  
  • 304 Laspino Lane Diamond Bar, CA 1
    • 4 beds 3 baths ∙ 1,773 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,773 Sqft ∙ Built 1965
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.47
    •  
  • 530 Bellows Court Diamond Bar, CA 3
    • 4 beds 3 baths ∙ 1,604 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,604 Sqft ∙ Built 1987
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.68
    •  
  • 23615 Maple Springs Drive Diamond Bar, CA 4
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1960
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.49
    •  
  • 529 Bregante Drive Diamond Bar, CA 5
    • 4 beds 3 baths ∙ 1,923 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,923 Sqft ∙ Built 1965
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.53
    •  
PROPERTY LISTING DETAILS
Kelly Martin
New Venture Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21023154
Last Updated: 02/05/2021
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