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112 Parkwell Ct San Jose, CA 95138

4 Beds 2 Baths 1,602 sqft Built 1979

$998,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
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.

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: Silver Leaf

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $362k1220k

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

Neighborhood: Silver Leaf

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
Bernal Intermediate School Middle Regular 807 36 7
Oak Grove High School High Magnet 1,903 78 6

Bernal Intermediate School

  • Education Level: Middle
  • # of students: 807
  • # of teachers: 36
7
GreatSchools Rating

Oak Grove High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 78
6
GreatSchools Rating
 

$898,200$1,097,800$998,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,220

INVESTMENT

$270,220

Down Payment
$249,500
Rehab Estimate
$5,750
Closing Costs
$14,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,500
Loan Amount $748,500
See What Happens When You Reinvest Cash Flow

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
$3,300
1$3,3002$3,3003$3,4494$3,5505$3,650
$3,650
RENT COMPS ANALYSIS
  • 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
Michael Smith
Myriad Real Estate Group
BESbswy