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1208 Lynn Ave San Jose, CA 95122

3 Beds 2 Baths 1,200 sqft Built 1958

$779,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $649.17
  • 3 Days on Market
  • MLS # : ML81825120
  • Updated Date : 01/08/2021 at 16:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Kw Silicon City

Listing Agent's Description

Convenient Location in East San Jose | Single home with additional living space, complete with long driveway and attached two-car garage. The main house features 3 beds, 2 baths. One additional bedroom that can be used as 4th bedroom or for rental. Kitchen has granite countertops, gas cooktop and plenty of cabinet space. This lovely home showcases hardwood floor, double-pane windows, skylights, central heating and central A/C, separate laundry room, and much more! Short distance to shopping centers, restaurants, freeway and downtown San Jose!

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

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
 

$701,100$856,900$779,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$2,706
Property Tax -$954
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$525

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.

$779,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.43%

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$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$212,185

INVESTMENT

$212,185

Down Payment
$194,750
Rehab Estimate
$5,750
Closing Costs
$11,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,706

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,750
Loan Amount $584,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$16,895

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
  • $3,364

    COMP ESTIMATED VALUE
  • $2.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1753$3,5004$3,950
$3,950
RENT COMPS ANALYSIS
  • 1208 Lynn Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1443 Kilchoan Ct San Jose, CA 2
    • 4 beds 2 baths ∙ 1,417 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,417 Sqft ∙ Built 1964
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,175
    • $2.24
    •  
  • 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
    property image
    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
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.29
    •  
PROPERTY LISTING DETAILS
Timothy Toan Chau
Kw Silicon City
BESbswy