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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Historic Downtown Upland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$125,000
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
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
-
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, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20240879
Last Updated: 11/16/2020
