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10661 Porter Ln San Jose, CA 95127

3 Beds 2 Baths 1,230 sqft Built 1960

$999,800

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $812.85
  • 11 Days on Market
  • MLS # : ML81824967
  • Updated Date : 01/14/2021 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,230 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Beautifully remodeled 3bed/2ba home nestled on a quiet cul-de-sac in the East Foothills of San Jose. Pride of ownership is evident w/ no detail left untouched. Open & bright floor plan w/ hardwd flooring & 2 separate dining areas-Perfect for entertaining! Chef's kitchen w/ new Samsung appliances, Quartz countertops, Maple cabinets, stylish farmhouse sink & a Boos butcher block table w/ pot rack. Three refreshed bedrms (2 w/ closet organizers ) & completely remodeled bathrms w/ dual sinks & Lrg walk-in shower in the master suite. Add'l amenities: Updated Central HVAC system, recessed lighting, upgraded electrical panel, new interior doors, barn doors & baseboards, new landscaping, fencing & drip irrigation system, newly poured enlarged driveway & 2 car garage. The backyard is the perfect place to unwind after a long day & enjoy breathtaking views of the city lights below! Easy commute location & mins from the San Jose Country Club & Villa Sport Athletic Club & Spa. Don't miss it!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$899,820$1,099,780$999,800

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$3,473
Property Tax -$1,168
Property Insurance -$57
Property Management Fees -$140
CASH FLOW
-$1,238

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.

$999,800

PROJECTED PRICE

$3,600

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,697

INVESTMENT

$270,697

Down Payment
$249,950
Rehab Estimate
$5,750
Closing Costs
$14,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,950
Loan Amount $749,850
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,719

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,600

    LIST RENT
  • $2.93

    LIST RENT PER SQFT
  • $3,518

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,800
$3,800
RENT COMPS ANALYSIS
  • 10661 Porter Ln San Jose, CA 1
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.93
    •  
  • 1470 Mount Shasta Dr San Jose, CA 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
Kraig Constantino
Intero Real Estate Services
BESbswy