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111 Garlic Ave Morgan Hill, CA 95037

4 Beds 3 Baths 2,640 sqft Built 2014

$1,300,000

List Price

$4,180

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $492.42
  • 4 Days on Market
  • MLS # : ML81823553
  • Updated Date : 12/17/2020 at 17:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,640 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tera Real Estate

Listing Agent's Description

Welcome to your new home in Morgan Hill's Stonebridge Community on perhaps the most desirable lot (about 1/4 acre) in the development. Open floor plan, high ceilings, wide plank wood flooring, plenty of natural light. Kitchen includes island breakfast bar, gas cooktop, stainless appliances, walk-in pantry, under cabinet lighting, designer pendant lights & granite counters Great room w/ Restoration Hardware built in entertainment center. Main level master bdrm, large walk-in closet; bath w/ soaking tub, frameless shower enclosure, marble counters & double vanity. Spacious loft & 3 bdrms upstairs. Amazing backyard w/ views of foothills & great oaks, hot tub, landscape lighting, redwood pergola, paver patio, gas fire pit, raised garden boxes. Manicured lawn front & back. Tank less water heater, 220V electric car charger in garage, water softener. Custom shed. Private Park across quite street w/ built in BBQ pits, play structure, tables, putting green and walk ways for a leisurely stroll.

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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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Zip Code: 95037

ZipNIR 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
P. A. Walsh Steam Academy Primary Regular 601 24 2
Martin Murphy Middle School Middle Regular 479 20 6
Ann Sobrato High School High Regular 1,451 62 8

P. A. Walsh Steam Academy

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 24
2
GreatSchools Rating

Martin Murphy Middle School

  • Education Level: Middle
  • # of students: 479
  • # of teachers: 20
6
GreatSchools Rating

Ann Sobrato High School

  • Education Level: High
  • # of students: 1,451
  • # of teachers: 62
8
GreatSchools Rating
 

$1,170,000$1,430,000$1,300,000

PURCHASE PRICE

$3,762$4,598$4,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,180
EXPENSES Loan Payment -$4,796
Property Tax -$1,305
Property Insurance -$91
HOA -$115
Property Management Fees -$163
CASH FLOW
-$2,290

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.

$1,300,000

PROJECTED PRICE

$4,180

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,250

INVESTMENT

$350,250

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,796

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $325,000
Loan Amount $975,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$76

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
  • $4,330

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,050
$4,050
RENT COMPS ANALYSIS
  • 111 Garlic Ave Morgan Hill, CA 1
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 624 Calle Siena Morgan Hill, CA 2
    • 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2018
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.64
    •  
PROPERTY LISTING DETAILS
Earle Makin
Tera Real Estate
BESbswy