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118 Lusitano Way Gilroy, CA 95020

4 Beds 3 Baths 1,809 sqft Built 2014

$775,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 08, 2020 RECENTLY ADDED
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.

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

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
Las Animas Elementary School Primary Regular 681 25 6
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

Las Animas Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 25
6
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
 

$697,500$852,500$775,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

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

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

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$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

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.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,672

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,050
$3,050
RENT COMPS ANALYSIS
  • 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
Tina Tovar
The Syndicate Real Estate Group
BESbswy