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1027 S 8th St San Jose, CA 95112

4 Beds 3 Baths 2,364 sqft Built 2003

$1,099,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $464.89
  • 4 Days on Market
  • MLS # : ML81819535
  • Updated Date : 11/13/2020 at 10:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Custom home for your large family! Step up to the quaint front patio and into the formal entry. Tastefully built with all the right touches: Walk on Brazilian hardwood floors throughout. To the right step down into the warm living room complete with fireplace and mantle. Down the hall you'll find the large eat in kitchen big enough for a 12 person table: Cherrywood cabinets with beautiful granite, custom light fixtures and tile flooring. Ground floor Master bedroom at the back of the home with large walk in closet, Cultured marble slabs in shower and bath. Three more bedrooms upstairs plus a bonus room. Laundry room inside and there 's a built in office space for working from home or studying. Detached garage with bonus inside, long driveway to fit all your vehicles and toys. Shelter at home with this wonderful backyard: Relax in the amazing covered patio kitchen area complete with barbecue, burners, waterfall, and built in gas fireplace. Too much to list! Owned Solar too!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spartan - Keyes

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $274k1220k

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

Neighborhood: Spartan - Keyes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $10903804

* 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
Lowell Elementary School Primary Regular 409 16 3
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Lowell Elementary School

  • Education Level: Primary
  • # of students: 409
  • # of teachers: 16
3
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$989,100$1,208,900$1,099,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$4,055
Property Tax -$1,228
Property Insurance -$84
Property Management Fees -$152
CASH FLOW
-$1,610

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.

$1,099,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 14.2%
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$1.0M$2.0M$3.0M$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$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$296,985

INVESTMENT

$296,985

Down Payment
$274,750
Rehab Estimate
$5,750
Closing Costs
$16,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $274,750
Loan Amount $824,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$941

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
  • $3,404

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,250
$3,250
RENT COMPS ANALYSIS
  • 1027 S 8th St San Jose, CA 1
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 733 S 22nd St San Jose, CA 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.44
    •  
PROPERTY LISTING DETAILS
Michelle Perry
Coldwell Banker Realty
BESbswy