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1160 Steinway Ave Campbell, CA 95008

3 Beds 3 Baths 2,105 sqft Built 1946

$1,998,000

List Price

$4,890

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1946
  • Price/Sqft : $949.17
  • 3 Days on Market
  • MLS # : ML81822321
  • Updated Date : 12/05/2020 at 16:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,105 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Welcome to 1160 Steinway Ave. an amazing Campbell property with a resort-like backyard. Featuring three bedrooms and three full bathrooms, this ranch style home has an open floor plan for living, working, learning and playing. Spacious kitchen features a skylight, granite breakfast bar, adjacent to a glass slider to the backyard. On a lot of almost 18,000 sq ft, there is plenty of room to entertain & play on your own bocce ball court, life-size chess board, outdoor kitchen and fire-pit looking at Santa Cruz Mountains. Prolific fruit trees including, Granny Apple, Persimmons, Prickly Pear, Lemon and Blood Orange. Excellent neighborhood for walking. Close Proximity to Jack Fischer Park, Los Gatos Trail, downtown Campbell and Los Gatos. Convenient to commuter routes such as Highway 85, 17/880 and San Tomas Expressway. Top Campbell schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: San Tomas

NeighborhoodNIR Market*CityMarket2010Year20002019500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $411k1665k

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

Neighborhood: San Tomas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17624493

* 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
Capri Elementary School Primary Regular 706 29 7
Rolling Hills Middle School Middle Regular 985 45 7
Westmont High School High Regular 1,537 68 8

Capri Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 29
7
GreatSchools Rating

Rolling Hills Middle School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 45
7
GreatSchools Rating

Westmont High School

  • Education Level: High
  • # of students: 1,537
  • # of teachers: 68
8
GreatSchools Rating
 

$1,798,200$2,197,800$1,998,000

PURCHASE PRICE

$4,401$5,379$4,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,890
EXPENSES Loan Payment -$7,372
Property Tax -$2,192
Property Insurance -$78
Property Management Fees -$191
CASH FLOW
-$4,942

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.

$1,998,000

PROJECTED PRICE

$4,890

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M$8.0M

PROJECTED ANNUAL CASH FLOW

11530-$80k-$70k-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M$8.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$535,220

INVESTMENT

$535,220

Down Payment
$499,500
Rehab Estimate
$5,750
Closing Costs
$29,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,372

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $499,500
Loan Amount $1,498,500
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,890

    LIST RENT
  • $2.32

    LIST RENT PER SQFT
  • $4,820

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$4,500
1$4,5002$4,890
$4,890
RENT COMPS ANALYSIS
  • 1160 Steinway Ave Campbell, CA 2
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 1946 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $4,890
    • $2.32
    •  
  • Chapman Dr Campbell, CA 1
    • 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1959
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.29
    •  
PROPERTY LISTING DETAILS
Andy Tse
Intero Real Estate Services
BESbswy