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1182 Cheyenne Dr Gilroy, CA 95020

5 Beds 3 Baths 2,938 sqft Built 2003

$1,009,000

List Price

$4,170

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $343.43
  • 3 Days on Market
  • MLS # : ML81824365
  • Updated Date : 01/01/2021 at 15:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,938 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

You are going to want to see this home! Gorgeous northwest side home featuring 5 bedrooms with 3 full bathrooms. This home has a functional floor plan for the family with high ceilings, formal living room/ dining room area, loft, a separate family room and a downstairs bedroom and full bath. Hardwood floors throughout most of the downstairs. The kitchen boasts granite tile counter tops, stainless steel appliances, a double oven with a gas cook top range and a center island with a granite counter top. Lots of counter top space in this kitchen. All of the bedrooms are carpeted and carpets have been recently cleaned. All of the bathrooms have tile floor with tile counter tops. Master bathroom features a separate stall shower and a jetted tub. Dual sinks and two separate large walk in closets! Home has A/C and two heating/cooling zones. Don't forget about the indoor laundry area with a sink. Also has a 3 car garage with lots of storage. Please follow all COVID regulations w/ min touching.

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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

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
Luigi Aprea Elementary School Primary Regular 729 28 7
Ascencion Solorsano Middle School Middle Regular 853 28 6
Christopher High School High Regular 1,889 80 7

Luigi Aprea Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 28
7
GreatSchools Rating

Ascencion Solorsano Middle School

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

Christopher High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 80
7
GreatSchools Rating
 

$908,100$1,109,900$1,009,000

PURCHASE PRICE

$3,753$4,587$4,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,170
EXPENSES Loan Payment -$3,723
Property Tax -$1,029
Property Insurance -$98
Property Management Fees -$163
CASH FLOW
-$842

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.

$1,009,000

PROJECTED PRICE

$4,170

PROJECTED RENT

0.41%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$273,135

INVESTMENT

$273,135

Down Payment
$252,250
Rehab Estimate
$5,750
Closing Costs
$15,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,723

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $252,250
Loan Amount $756,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$20,555

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
  • $4,525

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,000
$4,000
RENT COMPS ANALYSIS
  • 1182 Cheyenne Dr Gilroy, CA 1
    • 5 beds 3 baths ∙ 2,938 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,938 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2128 Gullane Way Gilroy, CA 2
    • 5 beds 4 baths ∙ 2,594 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,594 Sqft ∙ Built 2001
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.54
    •  
PROPERTY LISTING DETAILS
Brad Carlson
Coldwell Banker Realty
BESbswy