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1098 Ridgeley Dr Campbell, CA 95008

4 Beds 3 Baths 2,500 sqft Built 1947

$1,899,000

List Price

$5,260

$5K - $5.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $759.60
  • 35 Days on Market
  • MLS # : ML81819654
  • Updated Date : 12/08/2020 at 21:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,500 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

A 2016 remodeled home in the prestigious Dry Creek neighborhood located just steps from The Pruneyard and a stone throw from downtown Campbell. This meticulous 2,500 square-foot home features 3 full baths and 4 bedrooms, consisting of 2 master suites. In addition to the high-end appliances and finishes, this home has custom soft-close cabinetry, coffered 10-foot ceilings, recessed lighting, built-in surround sound, whole home water purification, plus many more items too long to list. All electrical and plumbing recently updated. Built on a large lot, the front yard and spacious backyard are fully landscaped and extremely low maintenance. Perfect for entertaining family and friends.

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: Pruneyard Dry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $373k1618k

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

Neighborhood: Pruneyard Dry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17624573

* 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
Blackford Elementary School Primary Regular 554 23 3
Campbell Middle School Middle Regular 686 31 4
Del Mar High School High Regular 1,108 49 6

Blackford Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 23
3
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 31
4
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$1,709,100$2,088,900$1,899,000

PURCHASE PRICE

$4,734$5,786$5,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,260
EXPENSES Loan Payment -$7,006
Property Tax -$2,142
Property Insurance -$87
Property Management Fees -$205
CASH FLOW
-$4,181

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.

$1,899,000

PROJECTED PRICE

$5,260

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$508,985

INVESTMENT

$508,985

Down Payment
$474,750
Rehab Estimate
$5,750
Closing Costs
$28,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,006

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $474,750
Loan Amount $1,424,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$122

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
  • $5,038

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9953$5,495
$5,495
RENT COMPS ANALYSIS
  • 1098 Ridgeley Dr Campbell, CA 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1947 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1596 San Gabriel Way San Jose, CA 2
    • 3 beds 3 baths ∙ 2,315 Sqft ∙ Built 1958 3 beds 3 baths ∙ 2,315 Sqft ∙ Built 1958
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.73
    •  
  • 2247 Constitution Dr San Jose, CA 3
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $2.30
    •  
PROPERTY LISTING DETAILS
The Gummow Brothers
Coldwell Banker Realty
BESbswy