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1160 S Winchester Blvd San Jose, CA 95128

2 Beds 2 Baths 1,056 sqft Built 1958

$1,149,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $1,088.07
  • 5 Days on Market
  • MLS # : ML81823981
  • Updated Date : 12/23/2020 at 19:50
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,056 sqft
  • Baths : 2 full
Listing Agent

Vesta Residential

Listing Agent's Description

Cozy 1,056 sq.ft 2 bed, 2 bath home on a 5,670 sq.ft. lot is move-in ready for you! The backyard has newly installed sod, bark, and also features apple, lemon, orange, hibiscus and pear trees. You'll fall in love with the natural light and hardwood flooring installed throughout the home everywhere but the kitchen. In the newly remodeled kitchen, enjoy stainless steel appliances -- dishwasher by Bosch, refrigerator, range and microwave by Samsung, quartz countertops, tiled backsplash, and a reverse osmosis water filtration system. This lovely home features dual-pane windows, upgraded insulation, upgraded central heating and cooling systems, upgraded electrical panel, recessed lighting, and its freshly painted inside and out with a tasteful color palette. Minutes from Santana Row, Valley Fair, Downtown Campbell, and 280/85 freeways. This is an ideal starter home or perfect for those looking to downsize.

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: Castlemont

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1277k

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

Neighborhood: Castlemont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16263804

* 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
Castlemont Elementary School Primary Charter 724 31 6
Monroe Middle School Middle Regular 884 39 5
Del Mar High School High Regular 1,108 49 6

Castlemont Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 31
6
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 39
5
GreatSchools Rating

Del Mar High School

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

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$4,239
Property Tax -$1,326
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$2,496

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.

$1,149,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
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-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$62

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
  • $2,888

    COMP ESTIMATED VALUE
  • $2.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4003$2,650
$2,650
RENT COMPS ANALYSIS
  • 1160 S Winchester Blvd San Jose, CA 1
    • 2 beds 2 baths ∙ 1,056 Sqft ∙ Built 1958 2 beds 2 baths ∙ 1,056 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4056 Bismarck Dr San Jose, CA 2
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1962 2 beds 1 baths ∙ 850 Sqft ∙ Built 1962
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.82
    •  
  • 85 Superior Dr C Campbell, CA 3
    • 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1968 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1968
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.65
    •  
PROPERTY LISTING DETAILS
Rickey Soriano
Vesta Residential
BESbswy