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1014 N 5th St San Jose, CA 95112

3 Beds 2 Baths 1,558 sqft Built 1947

$1,150,000

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $738.13
  • 5 Days on Market
  • MLS # : ML81824289
  • Updated Date : 12/30/2020 at 22:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California

Listing Agent's Description

THIS IS IT! MAKE NO MISTAKE WHERE YOU ARE.....(don't be a fool anymore, the waiting is over) says Mr. Michael McDonald! He goes on to say... "it's here, the moment is now, about to decide!" That song was written (in 1979) for this home!! Stunning! This home is being sold by only the second owners. So much rich history of the families that lived in this house and on this street in the early, early days of San Jose. These owners have put nothing but love and good taste into it. GOTTA SEE IT! Air conditioning! Refinished "original" red oak flooring. Custom upgrades unlike any in this price range. The quartz kitchen counter tops are so beautiful and resemble slab marble. Rich dark cabinets. Gas stove, and stainless steel appliances. Even the kitchen hood is attractive. The floorplan flows and is open and full of natural light. The master bedroom and master bath are right out of a magazine! And DO social distancing in this serene backyard! FULLY OWNED SOLAR! TANKLESS H2O HEATER!

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MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $334k1220k

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

Neighborhood: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11573804

* 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
Bachrodt Elementary School Primary Magnet 700 35 3
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Bachrodt Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 35
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$4,243
Property Tax -$1,284
Property Insurance -$65
Property Management Fees -$140
CASH FLOW
-$2,132

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.

$1,150,000

PROJECTED PRICE

$3,600

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
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-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,809

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2493$3,500
$3,500
RENT COMPS ANALYSIS
  • 1014 N 5th St San Jose, CA 1
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 130 Ferrari Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1948
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,249
    • $2.47
    •  
  • 522 N 20th St San Jose, CA 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.42
    •  
PROPERTY LISTING DETAILS
Rick Geha
Exp Realty Of California
BESbswy