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1314 Maria Way San Jose, CA 95117

3 Beds 2 Baths 1,403 sqft Built 1962

$1,295,000

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $923.02
  • 4 Days on Market
  • MLS # : BE40927708
  • Updated Date : 10/31/2020 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,403 sqft
  • Baths : 2 full
Listing Agent

Century 21 Re Alliance

Listing Agent's Description

Welcome to 1314 Maria Way where comfort meets style! This updated Cadillac West home features a tastefully renovated kitchen with gorgeous cabinets, stylish counter tops, backsplash and stainless-steel appliances. Other amenities include large separate family and living rooms w/ a fireplace and spacious bedrooms. Relax in the beautifully landscaped backyard on the patio underneath the pergola after a long day at work or play. This warm and cozy home is ready for a new owner to call it home sweet home.

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: Lexington Maria

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1282k

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

Neighborhood: Lexington Maria

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16923804

* 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
Rosemary Elementary School Primary Regular 513 21 4
Campbell Middle School Middle Regular 686 31 4
Westmont High School High Regular 1,537 68 8

Rosemary Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 21
4
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 31
4
GreatSchools Rating

Westmont High School

  • Education Level: High
  • # of students: 1,537
  • # of teachers: 68
8
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$4,778
Property Tax -$1,442
Property Insurance -$61
Property Management Fees -$138
CASH FLOW
-$2,879

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.

$1,295,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.4%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$90

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $2.52

    LIST RENT PER SQFT
  • $3,827

    COMP ESTIMATED VALUE
  • $2.73

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,5403$3,6504$3,7505$3,985
$3,985
RENT COMPS ANALYSIS
  • 1314 Maria Way San Jose, CA 2
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $2.52
    •  
  • 2524 Fernwood Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.70
    •  
  • Ribbon Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1958
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.61
    •  
  • 5095 Country Ln San Jose, CA 4
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1959
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.75
    •  
  • 3314 Lindenoaks Dr San Jose, CA 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,985
    • $2.85
    •  
PROPERTY LISTING DETAILS
Dean Souza
Century 21 Re Alliance
BESbswy