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1075 Normington Way San Jose, CA 95136

4 Beds 3 Baths 1,860 sqft Built 1973

INVESTimate

$1,250,000

List Price

$3,860

$3,610 - $4,110

Rent Est.

$1,365,000  ( +9.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $672.04
  • 6 Days on Market
  • MLS # : ML81807277
  • Updated Date : 08/25/2020 at 16:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,860 sqft
  • Baths : 2 full , 1 half
Listing Agent

Guerra Realty Co.

Listing Agent's Description

A great Thousand Oaks area home with 1860 sq feet within steps of a park and with large master suite and 3 additional bedrooms an updated gourmet kitchen with freestanding gas range, granite tops and furniture grade cabinets with a prep island. Hardwood floors throughout downstairs including dining and living room and separate family room.

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: Thousand Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Thousand Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Terrell Elementary School Primary Regular 501 19 4
Muir Middle School Middle Regular 1,118 51 6
Gunderson High School High Magnet 1,149 52 5

Terrell Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 19
4
GreatSchools Rating

Muir Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 51
6
GreatSchools Rating

Gunderson High School

  • Education Level: High
  • # of students: 1,149
  • # of teachers: 52
5
GreatSchools Rating
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$3,474$4,246$3,860

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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,860
EXPENSES Loan Payment -$4,612
Property Tax -$1,396
Property Insurance -$72
Property Management Fees -$151
CASH FLOW
-$2,370

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.

$1,250,000

PROJECTED PRICE

$3,860

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.20%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$13

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,860

    LIST RENT
  • $2.08

    LIST RENT PER SQFT
  • $3,618

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,195
1$3,1952$3,6503$3,860
$3,860
RENT COMPS ANALYSIS
  • 1075 Normington Way San Jose, 3
    • 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,860
    • $2.08
    •  
  • 1499 Hillsdale Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1960
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.86
    •  
  • 2956 Aulin Dr San Jose, 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1958
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.03
    •  
PROPERTY LISTING DETAILS
Michael Guerra
Guerra Realty Co.
BESbswy