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1043 S Bernardo Ave Sunnyvale, CA 94087

3 Beds 2 Baths 1,168 sqft Built 1954

INVESTimate

$1,499,000

List Price

$3,830

$3,580 - $4,080

Rent Est.

$1,714,856  ( +14.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $1,283.39
  • 6 Days on Market
  • MLS # : ML81807003
  • Updated Date : 08/24/2020 at 23:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,168 sqft
  • Baths : 1 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Rare opportunity to own and explore the potential to remodel a one story, 3 bedrooms+enclosed sunroom ( not included in sq ft ) in highly sought-after Cherry Chase neighborhood with top-rated schools: Homestead High, Sunnyvale Middle and Cherry Chase Elementary. Spacious formal living room and dining area features ceiling fan, wood burning fireplace with wood mantle makes it a great place to entertain and thoughtfully designed to anticipate a variety of living situations. Enclosed sunroom with wall-to-wall windows showcase mature plantation in backyard offers an endless use of space for work at home, relaxing and play. Kitchen with tile counter tops, backsplash, breakfast area and plentiful of storage cabinetry. Well-proportioned bedrooms, one with ceiling fan. Closets with hardwood floor, serene backyard with deck, patio, great for outdoor entertaining. Convenient location, close to Cherry Chase Elementary, Sunnyvale Middle, shopping, groceries and work. https://tinyurl.com/yauvyc75

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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: Cherry Chase

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000kPrice in $411k2074k

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

Neighborhood: Cherry Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18774493

* 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
Cherry Chase Elementary School Primary Regular 871 34 9
Sunnyvale Middle School Middle Regular 1,153 50 7
Homestead High School High Regular 2,406 94 9

Cherry Chase Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 34
9
GreatSchools Rating

Sunnyvale Middle School

  • Education Level: Middle
  • # of students: 1,153
  • # of teachers: 50
7
GreatSchools Rating

Homestead High School

  • Education Level: High
  • # of students: 2,406
  • # of teachers: 94
9
GreatSchools Rating
 

$1,349,100$1,648,900$1,499,000

PURCHASE PRICE

$3,447$4,213$3,830

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-$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 $3,830
EXPENSES Loan Payment -$5,531
Property Tax -$1,503
Property Insurance -$55
Property Management Fees -$149
CASH FLOW
-$3,408

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.

$1,499,000

PROJECTED PRICE

$3,830

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.40%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,985

INVESTMENT

$402,985

Down Payment
$374,750
Rehab Estimate
$5,750
Closing Costs
$22,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $374,750
Loan Amount $1,124,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$119

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
  • $3,837

    COMP ESTIMATED VALUE
  • $3.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,3003$4,4004$4,5955$4,600
$4,600
RENT COMPS ANALYSIS
  • 1043 S Bernardo Ave Sunnyvale, 1
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 889 Hanover Ave Sunnyvale, 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1954
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $3.47
    •  
  • 986 Bidwell Ave Sunnyvale, 3
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1956
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $3.13
    •  
  • 886 Pyrus Way Sunnyvale, 4
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1963
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $3.37
    •  
  • 488 Purisima Ave Sunnyvale, 5
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1956
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $3.17
    •  
PROPERTY LISTING DETAILS
Mary Tan
Compass
BESbswy