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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $622.97
- 7 Days on Market
- MLS # : ML81825309
- Updated Date : 01/11/2021 at 10:40
CONSTRUCTION
- Beds : 4
- Floor Size : 1,602 sqft
- Baths : 2 full
Listing Agent
Myriad Real Estate Group
Listing Agent's Description
A single story beauty in the quiet Silver Leaf neighborhood of the Santa Theresa area with easy access to shopping, golf courses, trails, and freeways. The back-half of the home offers vaulted ceilings and makes the home feel even bigger than actual. The hot tub is included with a gorgeous gazebo enclosure. With a little updating, this home offers a nice upside and serene feel and layout. Formal entry, dining room off the living room with fireplace, kitchen with family room adjoined, and full master retreat ... this home checks all the categories. The cul-de-sac setting adds to the peacefulness.
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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: Silver Leaf
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silver Leaf
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,300 |
| EXPENSES | Loan Payment | -$3,466 |
| Property Tax | -$1,208 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$1,570
|
||
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.
$998,000
PROJECTED PRICE
$3,300
PROJECTED RENT
0.33%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 9.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.19% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$270,220
LOAN DETAILS
$3,466
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $249,500 |
| Loan Amount | $748,500 |
0.08
YEARS SAVED
$63
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,300
LIST RENT -
$2.06
LIST RENT PER SQFT
-
$3,424
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
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112 Parkwell Ct San Jose, CA 2
- 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $3,300
- $2.06
-
406 Knollcrest Ave San Jose, CA 1
- 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,457 Sqft ∙ Built 1998
LEASED 10/22/20- Rent
- Rent Per SQFT
- $3,300
- $2.26
-
636 Autumn Meadow Dr San Jose, CA 3
- 3 beds 4 baths ∙ 1,793 Sqft ∙ Built 1995 3 beds 4 baths ∙ 1,793 Sqft ∙ Built 1995
LEASED 11/07/20- Rent
- Rent Per SQFT
- $3,449
- $1.92
-
436 Knollcrest Ave San Jose, CA 4
- 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1997
LEASED 02/05/20- Rent
- Rent Per SQFT
- $3,550
- $2.15
-
427 Chelsea Xing San Jose, CA 5
- 4 beds 3 baths ∙ 1,643 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,643 Sqft ∙ Built 1998
LEASED 11/23/19- Rent
- Rent Per SQFT
- $3,650
- $2.22
PROPERTY LISTING DETAILS
Myriad Real Estate Group
