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1173 Ortega Cir Gilroy, CA 95020

4 Beds 2 Baths 1,839 sqft Built 1976

$835,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $454.05
  • 2 Days on Market
  • MLS # : ML81825175
  • Updated Date : 01/09/2021 at 09:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,839 sqft
  • Baths : 2 full
Listing Agent

Patrick W. Mc Elroy,broker

Listing Agent's Description

Probate Sale subject to attorney and beneficiaries, not court approval. 4br-2ba in desirable Gilroy neighborhood - Tiffany Model in Castlewood development w/family room/kitchen combo, formal dining room, step down living room, 2 brick fireplaces, separate laundry room, dual pane windows, ceramic tile kitchen counters, large enclosed patio, termite and roof work completed, solar system lease/contract to be assumes, central air conditioning not working(as is), permits for large enclosed patio unknown

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
El Roble Elementary School Primary Regular 645 25 3
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

El Roble Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 25
3
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Gilroy High School

  • Education Level: High
  • # of students: 1,364
  • # of teachers: 65
5
GreatSchools Rating
 

$751,500$918,500$835,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$2,900
Property Tax -$851
Property Insurance -$72
Property Management Fees -$137
CASH FLOW
-$459

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.

$835,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$227,025

INVESTMENT

$227,025

Down Payment
$208,750
Rehab Estimate
$5,750
Closing Costs
$12,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $208,750
Loan Amount $626,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$24,938

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
  • $3,488

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,2004$3,495
$3,495
RENT COMPS ANALYSIS
  • 1173 Ortega Cir Gilroy, CA 1
    • 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 590 Eden St Gilroy, CA 2
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
  • 7820 Ponderosa Dr Gilroy, CA 3
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
  • 841 W 6th St Gilroy, CA 4
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1963
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.95
    •  
PROPERTY LISTING DETAILS
Patrick Mc Elroy
Patrick W. Mc Elroy,broker
BESbswy