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10651 Porter Ln. San Jose, CA 95127

3 Beds 2 Baths 1,430 sqft Built 1960

INVESTimate

$949,000

List Price

$3,500

$3,250 - $3,750

Rent Est.

$1,037,637  ( +9.34%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $663.64
  • 3 Days on Market
  • MLS # : BE40910813
  • Updated Date : 08/24/2020 at 18:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,430 sqft
  • Baths : 2 full
Listing Agent

Bhg Reliance Partners

Listing Agent's Description

Beautiful 3 bedroom, 2 bath home in the East Foothills of San Jose with a breathtaking unobstructed city view. This home has been completely remodel with 1430 sqft. of living space. New doors, dual pane windows, furnace and A/C, kitchen with granite counter tops and new stainless steel appliances, both bathrooms completely remodeled. French doors in the expanded Master suite with office, his and her's closets., new roof, new laminate floors, new stucco and paint, Finished garage, electric car charger and washer and dryer hookups. The front yard has new landscaping.The rear yard has new retaining walls, finished for gardening and a great place for entertaining. This home has an easy commute to Silicon Valley.

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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: East Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: East Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Cureton Elementary School Primary Regular 527 24 4
Joseph George Middle School Middle Regular 594 32 3
James Lick High School High Magnet 1,108 48 5

Cureton Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 24
4
GreatSchools Rating

Joseph George Middle School

  • Education Level: Middle
  • # of students: 594
  • # of teachers: 32
3
GreatSchools Rating

James Lick High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 48
5
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,501
Property Tax -$1,108
Property Insurance -$62
Property Management Fees -$137
CASH FLOW
-$1,308

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.

$949,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.34%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,295

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
  • $4,090

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,800
$3,800
RENT COMPS ANALYSIS
  • 10651 Porter Ln. San Jose, 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1470 Mount Shasta Dr San Jose, 2
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
PROPERTY LISTING DETAILS
Joe Rosa
Bhg Reliance Partners
BESbswy