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1104 N 3rd St San Jose, CA 95112

3 Beds 2 Baths 1,361 sqft Built 1939

$1,298,888

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1939
  • Price/Sqft : $954.36
  • 2 Days on Market
  • MLS # : ML81820340
  • Updated Date : 11/14/2020 at 10:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,361 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Amazing craftsmen home offering oasis with stunning resort like Pool with owned solar system, Outdoor Kitchen with Gas and in-law unit. This is the space youve been looking for. Crown Molding, Gourmet Kitchen with waterfall, Wall of Cabinets for extra storage, Stainless Steel Appliances, Copper Pipes, New Upgraded Electrical, Anderson Doors & Windows, Hardwood Floors, Remodeled Bathrooms and much more! Hyde Park Neighborhood with Tree Lined Street and a great neighborhood of long-time owners! This is one of the best commute locations in the South Bay with Light Rail just a couple of blocks over and easy access to Highways 87, 880 and 101. This home seriously has it all. No need to leave town to find this. This home is a hidden gem! Visit our Virtual open house this weekend and or schedule in person view. Dont miss our Matterport tour with drone video to know its definitely worth your attention and time!

SEE MORE

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: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $334k1220k

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

Neighborhood: Hyde Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11573804

* 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
Bachrodt Elementary School Primary Magnet 700 35 3
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Bachrodt Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 35
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

$1,168,999$1,428,777$1,298,888

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$4,792
Property Tax -$1,450
Property Insurance -$60
Property Management Fees -$135
CASH FLOW
-$2,978

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.

$1,298,888

PROJECTED PRICE

$3,460

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.6%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,955

INVESTMENT

$349,955

Down Payment
$324,722
Rehab Estimate
$5,750
Closing Costs
$19,483

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,792

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,722
Loan Amount $974,166
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $2.54

    LIST RENT PER SQFT
  • $3,328

    COMP ESTIMATED VALUE
  • $2.45

    COMP AVG. RENT PER SQFT
Comps Range
$3,249
1$3,2492$3,4603$3,500
$3,500
RENT COMPS ANALYSIS
  • 1104 N 3rd St San Jose, CA 2
    • 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1939 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1939
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $2.54
    •  
  • 130 Ferrari Ave San Jose, CA 1
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1948
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,249
    • $2.47
    •  
  • 522 N 20th St San Jose, CA 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.42
    •  
PROPERTY LISTING DETAILS
Zdenka Mahan
Intero Real Estate Services
BESbswy