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1167 Lynn Ave San Jose, CA 95122

3 Beds 2 Baths 1,200 sqft Built 1958

$740,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $616.67
  • 7 Days on Market
  • MLS # : ML81819567
  • Updated Date : 11/09/2020 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Great investment opportunity! Single family home in East San Jose near parks and shopping. This project requires an open mind and TLC - discover the potential income of this property! Features include 3 bedrooms and 2 bathrooms, 1200 sqft of living space on a 5728 sqft lot. Cozy living room with fireplace. Attached 2 car garage, gas and electric laundry hookup. Easy access to highways, shopping, dining in downtown San Jose and community gardens. Tenant Occupied, please respect the tenants privacy and follow showing instructions.

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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: Tropicana

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $255k1220k

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

Neighborhood: Tropicana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17343804

* 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
O. S. Hubbard Elementary School Primary Regular 506 21 4
Clyde L. Fischer Middle School Middle Regular 497 26 2
William C. Overfelt High School High Regular 1,455 66 3

O. S. Hubbard Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 21
4
GreatSchools Rating

Clyde L. Fischer Middle School

  • Education Level: Middle
  • # of students: 497
  • # of teachers: 26
2
GreatSchools Rating

William C. Overfelt High School

  • Education Level: High
  • # of students: 1,455
  • # of teachers: 66
3
GreatSchools Rating
 

$666,000$814,000$740,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,730
Property Tax -$906
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$691

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$740,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 10.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$11,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $2.61

    LIST RENT PER SQFT
  • $3,400

    COMP ESTIMATED VALUE
  • $2.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$3,1303$3,5004$3,950
$3,950
RENT COMPS ANALYSIS
  • 1167 Lynn Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $2.61
    •  
  • 2125 Amstel Court San Jose, CA 1
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1976
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $2.33
    •  
  • 2224 Cinderella Ln San Jose, CA 3
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1959
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.88
    •  
  • 1626 Marsh St San Jose, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.29
    •  
PROPERTY LISTING DETAILS
Julie Wyss
Compass
BESbswy