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129 Olive St Los Gatos, CA 95030

2 Beds 1 Baths 916 sqft Built 1928

$1,395,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $1,522.93
  • 3 Days on Market
  • MLS # : ML81823037
  • Updated Date : 12/11/2020 at 16:17
CONSTRUCTION
  • Beds : 2
  • Floor Size : 916 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This charming two bedroom, 1 bathroom cottage is conveniently located in Downtown Los Gatos. Easy access to schools, shopping, dining, and everything else allows you to enjoy what makes Los Gatos so special. The detached garage has been partially converted into a laundry room with plenty of extra storage yet still provides enough room for one car parking. The beautifully landscaped backyard features room to entertain, play, garden, or relax and enjoy the view from the over-sized, top of the line, hot tub/spa. The home has been remodeled and upgraded over the years while still retaining the appeal of the original style and design.

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: North Santa Cruz

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200k2400kPrice in $411k2467k

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

Neighborhood: North Santa Cruz

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2200025003000350040004500500055006000Rent in $19076176

* 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
Daves Avenue Elementary School Primary Regular 580 23 10
Raymond J. Fisher Middle School Middle Regular 1,246 56 10
Los Gatos High School High Regular 1,912 86 10

Daves Avenue Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 23
10
GreatSchools Rating

Raymond J. Fisher Middle School

  • Education Level: Middle
  • # of students: 1,246
  • # of teachers: 56
10
GreatSchools Rating

Los Gatos High School

  • Education Level: High
  • # of students: 1,912
  • # of teachers: 86
10
GreatSchools Rating
 

$1,255,500$1,534,500$1,395,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$5,147
Property Tax -$1,464
Property Insurance -$49
Property Management Fees -$129
CASH FLOW
-$3,959

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.

$1,395,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.20%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$375,425

INVESTMENT

$375,425

Down Payment
$348,750
Rehab Estimate
$5,750
Closing Costs
$20,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,147

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $348,750
Loan Amount $1,046,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$3,046

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
  • $1,759

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,300
$2,300
RENT COMPS ANALYSIS
  • 129 Olive St Los Gatos, CA 1
    • 2 beds 1 baths ∙ 916 Sqft ∙ Built 1928 2 beds 1 baths ∙ 916 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 14316 Mulberry Dr Los Gatos, CA 2
    • 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930 2 beds 1 baths ∙ 1,200 Sqft ∙ Built 1930
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.92
    •  
PROPERTY LISTING DETAILS
Darren Carroll
Coldwell Banker Realty
BESbswy