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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $428.41
- 7 Days on Market
- MLS # : ML81822605
- Updated Date : 12/08/2020 at 09:08
CONSTRUCTION
- Beds : 4
- Floor Size : 1,809 sqft
- Baths : 2 full , 1 half
Listing Agent
The Syndicate Real Estate Group
Listing Agent's Description
Beautiful corner 3 bedroom/ 2.5 bath with a spacious loft KB dream home, located in the desirable Oak Place, one of Gilroy's priemier communities. Offering over 1,800 sqft of living space sitting on one of the bigger lots in the community that's over 4,700 sqft with all the bells and whistles you'd expect from a nearly new construction. Stunning gourmet kitchen adorned w/granite countertops, SS Kitchen Aid appliances and upgraded cabinets. Loft area on second floor is perfect for an office/ play area. Spacious master bedroom features spa like bath w/separate soaking tub and stall shower. Convenient 2 car attached garage. Community amenities include bocce ball courts, BBQ grills, and playground. EZ access to freeway and train station. Close to parks, trails, major retail, and dining.
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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
Zip Code: 95020
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95020
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,420 |
| EXPENSES | Loan Payment | -$2,859 |
| Property Tax | -$790 | |
| Property Insurance | -$71 | |
| HOA | -$149 | |
| Property Management Fees | -$133 | |
|
CASH FLOW
-$583
|
||
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.
$775,000
PROJECTED PRICE
$3,420
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$211,125
LOAN DETAILS
$2,859
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
2.5
YEARS SAVED
$18,724
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$3,672
COMP ESTIMATED VALUE -
$2.03
COMP AVG. RENT PER SQFT
Comps Range
-
118 Lusitano Way Gilroy, CA 1
- 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 2014
![property image]()
- Rent
- Rent Per SQFT
- $0
- $0.00
-
7955 Kipling Cir Gilroy, CA 2
- 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005
![property image]()
LEASED 01/20/20- Rent
- Rent Per SQFT
- $3,050
- $2.03
PROPERTY LISTING DETAILS
The Syndicate Real Estate Group
