Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southwestern Milpitas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$270,432
LOAN DETAILS
$3,685
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $249,700 |
| Loan Amount | $749,100 |
-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
-
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
Mike Bell Realty
