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1031 Garland Ave San Jose, CA 95126

3 Beds 2 Baths 1,611 sqft Built 1905

INVESTimate

$1,268,000

List Price

$4,080

$3,830 - $4,330

Rent Est.

$1,453,128  ( +14.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1905
  • Price/Sqft : $787.09
  • 7 Days on Market
  • MLS # : ML81805185
  • Updated Date : 08/22/2020 at 10:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,611 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Smartly nestled in San Jose's up and coming Sunol-Midtown neighborhood, this classic bungalow invites you to enjoy the California urban lifestyle on this quiet tree-lined street. The irresistible charm of the front porch invites you to hang out and converse with the neighbors, or entertain family and friends from the large kitchen/family room opening to the spacious side and back yards. Take advantage of the large back yard for growing your personalized vegetable garden! Garden boxes ready for your convenience! The graceful beauty of this home brings timeless architecture with vintage charm and elements such as wainscot paneling, high coffered ceilings, & built-in cabinetry. Originally built in 1905, old world charm meets new world in the thoughtfully expanded & remodeled beauty! Solar Panels & Car Charger too! Located in the heart of Sunol-Midtown yet minutes from downtown Willow Glen and a stones through from the Rose Garden. Fall in Love with this extraordinary home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: St. Leo's

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $348k1220k

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

Neighborhood: St. Leo's

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21400160018002000220024002600280030003200340036003800Rent in $12713804

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
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
 

$1,141,200$1,394,800$1,268,000

PURCHASE PRICE

$3,672$4,488$4,080

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,080
EXPENSES Loan Payment -$4,678
Property Tax -$1,416
Property Insurance -$66
Property Management Fees -$159
CASH FLOW
-$2,239

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.

$1,268,000

PROJECTED PRICE

$4,080

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.60%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$341,770

INVESTMENT

$341,770

Down Payment
$317,000
Rehab Estimate
$5,750
Closing Costs
$19,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,678

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $317,000
Loan Amount $951,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$70

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
  • $4,607

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1503$4,0704$4,600
$4,600
RENT COMPS ANALYSIS
  • 1031 Garland Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1905 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1905
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 263 Washington St San Jose, 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.12
    •  
  • 837 Prevost St San Jose, 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1900 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1900
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,070
    • $2.91
    •  
  • 1111 Morse San Jose, 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1920
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.55
    •  
PROPERTY LISTING DETAILS
Carolyn Botts
Coldwell Banker Realty
BESbswy