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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hyde Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$310,500
LOAN DETAILS
$4,243
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $287,500 |
| Loan Amount | $862,500 |
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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$3,809
COMP ESTIMATED VALUE -
$2.45
COMP AVG. RENT PER SQFT
Comps Range
-
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
Exp Realty Of California
