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1285 Fremont St San Jose, CA 95126

3 Beds 3 Baths 2,100 sqft Built 1909

$1,575,000

List Price

$4,360

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1909
  • Price/Sqft : $750.00
  • 2 Days on Market
  • MLS # : ML81821640
  • Updated Date : 11/28/2020 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Deepsave Realty

Listing Agent's Description

Nestled in your own redwood forest. Charming old-world style home has been updated. With a home "permitted addition" built by award-winning builder "DE MATTEI Construction" in 1998. Addition is a Fam. Rm, Master suite & bath including a walk-in double head shower, remodeled new 3 years ago. Fam Rm has a fireplace, inside laundry area & a large walk-in storage closet. ROOF & EXT. PAINTING new 3 years ago. New interior paint just completed for this sale. Fabulous open floor plan from the updated kitchen overlooking, formal type dining all interconnected to the grand room addition. 2 front bedrooms for isolated homework office or extended family in-home living but away from the rear master suite for both groups privacy. Milgard dual pane windows. Stunning back yard with multiple cement decks and wooded deck custom wrapped around your hot tub right off the master suite's french doors. Lots of canned lights. Walk-in basement. Showing & open house appointments only following Covid protocols

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Shasta Hanchette Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Shasta Hanchette Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15504493

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$1,417,500$1,732,500$1,575,000

PURCHASE PRICE

$3,924$4,796$4,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,360
EXPENSES Loan Payment -$5,811
Property Tax -$1,759
Property Insurance -$78
Property Management Fees -$170
CASH FLOW
-$3,458

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.

$1,575,000

PROJECTED PRICE

$4,360

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$423,125

INVESTMENT

$423,125

Down Payment
$393,750
Rehab Estimate
$5,750
Closing Costs
$23,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$5,811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $393,750
Loan Amount $1,181,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$105

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
  • $4,883

    COMP ESTIMATED VALUE
  • $2.33

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,4953$5,900
$5,900
RENT COMPS ANALYSIS
  • 1285 Fremont St San Jose, CA 1
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1909 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1909
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 660 Coe Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 1910 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 1910
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.14
    •  
  • 1305 Hanchett Ave San Jose, CA 3
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1923 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1923
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,900
    • $2.51
    •  
PROPERTY LISTING DETAILS
Derek Miller
Deepsave Realty
BESbswy