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121 Greentree Way Milpitas, CA 95035

3 Beds 2 Baths 1,190 sqft Built 1968

$998,800

List Price

$3,190

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $839.33
  • 2 Days on Market
  • MLS # : ML81824041
  • Updated Date : 12/26/2020 at 12:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,190 sqft
  • Baths : 2 full
Listing Agent

Mike Bell Realty

Listing Agent's Description

O-W-N-A-B-L-E! GRAB THE PHONE! GRAB THIS DEAL! Efficient And Affordable with almost NON-EXISTENT UTILITY BILLS. Reduced gas, water and electric costs thanks to 5KW OWNED SOLAR electric system (2019), whole house tankless water heater (hot water on demand), and gray-water irrigation system. A cozy 3 bedroom, 2 bath charmer freshly updated with new paint inside and out, brand new range, dishwasher, new carpet and vinyl flooring, new granite countertops. New roof in 2014, upgraded electrical panel(s), new sewer line and copper plumbing. 1 car garage parking with bonus/office room plus additional garage storage, permits unknown.� CONVENIENT Milpitas location In The Pines, one block from Pinewood Park, with children's playgrounds, picnic areas, tennis courts and a walking/biking trail. Near the new BART system, the Great Mall; near major high-tech companies like Apple, Google and Facebook; easy access to major freeways, light rail system, major box stores, and moments from SJC airport.

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

Neighborhood: Southwestern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $347k1220k

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

Neighborhood: Southwestern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17263804

* 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
Pearl Zanker Elementary School Primary Regular 663 25 7
Rancho Milpitas Middle School Middle Regular 714 30 8
Milpitas High School High Regular 3,105 117 9

Pearl Zanker Elementary School

  • Education Level: Primary
  • # of students: 663
  • # of teachers: 25
7
GreatSchools Rating

Rancho Milpitas Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 30
8
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$898,920$1,098,680$998,800

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$3,685
Property Tax -$994
Property Insurance -$56
HOA -$300
Property Management Fees -$129
CASH FLOW
-$1,974

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.

$998,800

PROJECTED PRICE

$3,190

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.8%
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$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,432

INVESTMENT

$270,432

Down Payment
$249,700
Rehab Estimate
$5,750
Closing Costs
$14,982

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$3,685

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,700
Loan Amount $749,100
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$13

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,190

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • $3,023

    COMP ESTIMATED VALUE
  • $2.54

    COMP AVG. RENT PER SQFT
Comps Range
$3,190
1$3,1902$3,800
$3,800
RENT COMPS ANALYSIS
  • 121 Greentree Way Milpitas, CA 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $2.68
    •  
  • 2318 Oak Flat Rd San Jose, CA 2
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1974
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.54
    •  
PROPERTY LISTING DETAILS
Michael Bell
Mike Bell Realty
BESbswy