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10054 Torrance Ave San Jose, CA 95127

3 Beds 3 Baths 1,467 sqft Built 1952

$1,049,000

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1952
  • Price/Sqft : $715.06
  • 19 Days on Market
  • MLS # : ML81816132
  • Updated Date : 10/31/2020 at 08:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,467 sqft
  • Baths : 3 full
Listing Agent

Alliance Bay Realty

Listing Agent's Description

THIS IS ONE OF A KIND!! THIS PROPERTY HAS A LOT OF POTENTIAL FOR EITHER RENTAL INCOME OR A LARGE FAMILY! WITH A SPACIOUS MAIN HOUSE, A GARAGE CONVERTED INTO A STUDIO PLUS A BONUS IN LAW UNIT THIS IS JUST THE HOME YOU HAVE BEEN LOOKING FOR. THE MAIN HOUSE HAS 3 BEDS AND 2 BATHS, A NICE KITCHEN WITH A LOT OF CABINETS SPACE, ETC. PRIVATE BACK YARD AND A LARGE PARKING SPACE IN FRONT OF THE HOUSE. NICE AND CONVENIENT LOCATION! BRING YOUR BEST OFFER AND BE THE NEW OWNER!! *** BUYER TO VERIFY PERMITS OF ADDITIONAL UNITS**

SEE MORE

MARKET HIGHLIGHTS

  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • San Jose metro's economy has been worth $282.2 billion in Gross Metro Product (GMP) in 2018 and is projected to grow to $298.6 billion in 2019. GMP measures the productivity of the metro. (USMayors.org, 2018)
  • San Jose metro employment growth has been at 2.2% in 2018 and predicted to grow at 1.9% in 2019 (USMayors.org, 2018)
  • San Jose metro contributes to 9% of California state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Palo Alto, Redwood City, Mountain View and San Mateo together attracted around $11 billion in venture capital funding in 2019 making Silicon Valley still attractive to technology investments (Crunchbase News, 2020)

PRICE & RENT TRENDS

Neighborhood: Mt. Pleasant North

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $300k1220k

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

Neighborhood: Mt. Pleasant North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17823804

* 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
Mt. Pleasant High School High Regular 1,452 67 6

Mt. Pleasant High School

  • Education Level: High
  • # of students: 1,452
  • # of teachers: 67
6
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$3,870
Property Tax -$1,271
Property Insurance -$63
Property Management Fees -$146
CASH FLOW
-$1,600

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$1,049,000

PROJECTED PRICE

$3,750

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,750

    LIST RENT
  • $2.56

    LIST RENT PER SQFT
  • $4,196

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$3,800
$3,800
RENT COMPS ANALYSIS
  • 10054 Torrance Ave San Jose, CA 1
    • 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 1952 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.56
    •  
  • 1470 Mount Shasta Dr San Jose, CA 2
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
PROPERTY LISTING DETAILS
Tomas Gonzalez
Alliance Bay Realty
BESbswy