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1050 Asbury St San Jose, CA 95126

3 Beds 3 Baths 2,112 sqft Built 1929

$1,799,000

List Price

$4,440

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1929
  • Price/Sqft : $851.80
  • 5 Days on Market
  • MLS # : ML81820567
  • Updated Date : 11/20/2020 at 07:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,112 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Traditional Spanish Style home in the popular College Park neighborhood adjacent to the Rose Garden. This beautiful home has the perfect mix of timeless style and desirable updates. Features include: Commercial grade gas Viking Range, SubZero Refrigerator/Freezer, Bosch Dishwasher, Hardwood Floors, Mahogany Cabinets, Air Conditioning, Office Area, 3 Car Garage, and much more! Floorplan features large rooms and two EnSuite Bathrooms, one of which is a spacious Master Suite. With over a 10,000 square foot lot, Indoor/Outdoor Living is set up perfectly for entertaining and includes a convenient Outdoor Kitchen. Set up an appointment to see this special property!

SEE MORE

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: College Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: College Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800Rent in $14213811

* 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
 

$1,619,100$1,978,900$1,799,000

PURCHASE PRICE

$3,996$4,884$4,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,440
EXPENSES Loan Payment -$6,638
Property Tax -$2,009
Property Insurance -$78
Property Management Fees -$173
CASH FLOW
-$4,458

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.

$1,799,000

PROJECTED PRICE

$4,440

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 13.6%
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$5.0M$6.0M$7.0M

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$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$482,485

INVESTMENT

$482,485

Down Payment
$449,750
Rehab Estimate
$5,750
Closing Costs
$26,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $449,750
Loan Amount $1,349,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$255

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
  • $4,910

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,4953$5,900
$5,900
RENT COMPS ANALYSIS
  • 1050 Asbury St San Jose, CA 1
    • 3 beds 3 baths ∙ 2,112 Sqft ∙ Built 1929 3 beds 3 baths ∙ 2,112 Sqft ∙ Built 1929
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 660 Coe Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 1910 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 1910
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.14
    •  
  • 1305 Hanchett Ave San Jose, CA 3
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1923 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1923
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.51
    •  
PROPERTY LISTING DETAILS
Paul Bertoldo
Coldwell Banker Realty
BESbswy