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603 Katy Drive Upland, CA 91786

3 Beds 3 Baths 1,525 sqft Built 2015

$450,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $295.08
  • 7 Days on Market
  • MLS # : IV20240879
  • Updated Date : 11/16/2020 at 13:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,525 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vincent Jaramillo, Broker

Listing Agent's Description

The Orchards a Beautiful Tri-level living Community located close to the heart of downtown Upland with shopping, specialty stores, a variety in dining and walking distance to the Upland Metrolink station… This Great designed floor-plan has the 1st floor entry to the house and a 2 car garage with storage racks, the 2nd level opens up to a spacious Living room with Plantation Shutters, a restroom for guest, a Patio balcony to relax on, a Dining area and Open kitchen with recess lighting, beautiful Granite counter tops and island with additional sitting, a walk-in pantry and a Laundry room for a stack-able washer and dryer. The 3rd level you'll find the Master bedroom, walk in closet and private bathroom with a double sink vanity with a large mirror and shower with glass doors. The second bedroom is a great size with a large closet and window with blinds. The third bedroom also has a closet and window with blinds. Also, there is a bathroom with a vanity, mirror, tub and shower located in the hallway. The Orchards is a pet friendly community that offers a playground and clubhouse, gated pool, spa, and BBQ area. This Complex is located in close to many family needs such as; shopping, grocery stores, coffee shops, men and women salons, theaters, post office, parks, and the mountains, beaches and both high & low desert areas.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.
  • 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)
  • 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's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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: Historic Downtown Upland

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $116k642k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Historic Downtown Upland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9112575

* 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
Edison Elementary School Primary Regular 861 30 8
Edison Elementary School Middle Regular 861 30 8
Chaffey High School High Regular 3,530 138 4

Edison Elementary School

  • Education Level: Primary
  • # of students: 861
  • # of teachers: 30
8
GreatSchools Rating

Edison Elementary School

  • Education Level: Middle
  • # of students: 861
  • # of teachers: 30
8
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,660
Property Tax -$426
Property Insurance -$64
HOA -$220
Property Management Fees -$131
CASH FLOW
-$281

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.

$450,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2203$2,3754$2,4505$2,480
$2,480
RENT COMPS ANALYSIS
  • 603 Katy Drive Upland, CA 2
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.46
    •  
  • 188 Olive Avenue Upland, CA 1
    • 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 2018
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.47
    •  
  • 8607 Cava Dr. Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2014
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.43
    •  
  • 264 Freedom Avenue Upland, CA 4
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2000
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.47
    •  
  • 598 Orlando Court Upland, CA 5
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2016
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.44
    •  
PROPERTY LISTING DETAILS
Vincent Jaramillo
Vincent Jaramillo, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20240879
Last Updated: 11/16/2020
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