Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1040 Ellis Ave San Jose, CA 95125

3 Beds 2 Baths 1,807 sqft Built 1942

INVESTimate

$1,748,888

List Price

$4,030

$3,780 - $4,280

Rent Est.

$1,958,405  ( +11.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1942
  • Price/Sqft : $967.84
  • 5 Days on Market
  • MLS # : ML81807404
  • Updated Date : 08/23/2020 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full
Listing Agent

Shadi Figuli, Broker

Listing Agent's Description

Absolutely stunning home a mere 5 blocks from downtown Willow Glen, located on one of it's most highly sought after tree-lined streets! This home exudes elegance with its beautifully paneled walls & charming coved ceilings. Arched entrys enhance the character & warmth of this gorgeous 3 bd/2 ba home which features a newly renovated designer kitchen w/ leathered quartzite countertops, custom made cabinets, white subway backsplash, stainless steel appliances, large farmhouse sink, & whole house water filtration system. The kitchen is anchored by a large island situated beneath a chic detailed ceiling with crystal chandeliers. The warming drawer & in-ceiling speakers make entertaining a breeze! The finished basement is home to the 3rd bdrm & boasts built in custom cabinets, fireplace, storage & a murphy bed which can be put away for alternate uses of the room. Workout in the home gym & yoga studio or lounge on the stone deck among maple trees for ultimate serenity.

SEE MORE

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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Willow Glen Elementary School Primary Regular 803 28 5
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Willow Glen Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 28
5
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,573,999$1,923,777$1,748,888

PURCHASE PRICE

$3,627$4,433$4,030

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$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$60k-$50k-$40k-$30k-$20k-$10k$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$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,030
EXPENSES Loan Payment -$6,453
Property Tax -$1,953
Property Insurance -$71
Property Management Fees -$157
CASH FLOW
-$4,603

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.

$1,748,888

PROJECTED PRICE

$4,030

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.98%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$469,205

INVESTMENT

$469,205

Down Payment
$437,222
Rehab Estimate
$5,750
Closing Costs
$26,233

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$6,453

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $437,222
Loan Amount $1,311,666
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$348

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
  • $4,883

    COMP ESTIMATED VALUE
  • $2.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2503$4,5004$5,4955$5,795
$5,795
RENT COMPS ANALYSIS
  • 1040 Ellis Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1011 Camino Ramon San Jose, 2
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1938 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1938
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.36
    •  
  • 1477 Husted Ave San Jose, 3
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
  • 1034 Laurie Ave San Jose, 4
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1941
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $3.22
    •  
  • 1447 Brookdale Dr San Jose, 5
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 1955
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,795
    • $2.90
    •  
PROPERTY LISTING DETAILS
Shadi Figuli
Shadi Figuli, Broker
BESbswy