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1295 Clark Way San Jose, CA 95125

4 Beds 3 Baths 2,318 sqft Built 1965

INVESTimate

$1,850,000

List Price

$4,800

$4,550 - $5,050

Rent Est.

$2,071,630  ( +11.98%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $798.10
  • 9 Days on Market
  • MLS # : ML81805181
  • Updated Date : 08/25/2020 at 13:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,318 sqft
  • Baths : 3 full
Listing Agent

Sereno Group

Listing Agent's Description

Beautiful Willow Glen home completely remodeled in 2017. This home offers an open floor plan perfect for family gatherings. The spacious kitchen is ideal for more than 1 chef in the family and has beautiful quartz countertops, Thermador appliances, walk-in pantry, and reverse osmosis drinking water at the sink. Large great room with fireplace to stay cozy on the cooler nights. This home has 4 bedrooms and 3 full bathrooms. Large master suite with walk-in closet and slider to the backyard. The 4th bedroom has an attached full bathroom perfect for guests or in-laws quarters. Great backyard space for hours of play and gatherings with family and friends. A mature lemon tree that produces large lemons perfect for making lemonade on a hot summer day. Short distance to Downtown Willow Glen, minutes from Downtown San Jose & proposed Google campus. Easy access to Hwy 87, 280, Light Rail & Caltrain Stations. Booksin School. Welcome Home!

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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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Booksin Elementary School Primary Regular 851 31 8
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Booksin Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 31
8
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,665,000$2,035,000$1,850,000

PURCHASE PRICE

$4,320$5,280$4,800

RENT

DOWN PAYMENT
FINANCING

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$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$70k-$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$7.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,800
EXPENSES Loan Payment -$6,826
Property Tax -$2,066
Property Insurance -$83
Property Management Fees -$187
CASH FLOW
-$4,362

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.

$1,850,000

PROJECTED PRICE

$4,800

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.98%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$496,000

INVESTMENT

$496,000

Down Payment
$462,500
Rehab Estimate
$5,750
Closing Costs
$27,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $462,500
Loan Amount $1,387,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$203

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
  • $5,059

    COMP ESTIMATED VALUE
  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,3953$4,5954$5,3505$5,495
$5,495
RENT COMPS ANALYSIS
  • 1295 Clark Way San Jose, 1
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2532 Gerald Way San Jose, 2
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1950 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1950
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,395
    • $2.00
    •  
  • 2311 Markham Ave San Jose, 3
    • 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1957 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1957
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $1.92
    •  
  • 1591 Phantom Ave San Jose, 4
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,350
    • $2.51
    •  
  • 2247 Constitution Dr San Jose, 5
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $2.30
    •  
PROPERTY LISTING DETAILS
Kendra Gaeta
Sereno Group
BESbswy