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1315 Ashcroft Ln San Jose, CA 95118

3 Beds 2 Baths 1,176 sqft Built 1964

$1,049,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $892.01
  • 5 Days on Market
  • MLS # : ML81818126
  • Updated Date : 10/30/2020 at 10:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc.

Listing Agent's Description

This home is a "Hidden Gem" and one of nicest of neighborhoods. Close to everything really important for families.Nearby Pioneer High School. Weekly Farmers Markets. 5-7 Minutes to Hwy. 85 and then 4 minutes to 880. Close to all the important life's requirements! GREAT RESTAURANTS AND SHOPPING NEARBY! This Corner Lot is large and private. Farmer's markets and a just a few minutes to Hwy 85 and all of "Silicon Valley" Send your teenager to nearby Pioneer High School, easy to walk or bike to. This property was loved and rented by a Father and Daughter for sixteen years before being released to the now market. Newer front door. Seller will credit to buyer for some minor fixing up of bathrooms. Buyers please contact your agent for a private showing. Due to COVID-19 guidelines. Please adhere to the "Social Distancing Rules" Appointment not necessary.

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: Croydon

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $307k1304k

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

Neighborhood: Croydon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Los Alamitos Elementary School Primary Regular 722 24 8
Castillero Middle School Middle Regular 1,222 54 6
Pioneer High School High Regular 1,570 67 9

Los Alamitos Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 24
8
GreatSchools Rating

Castillero Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 54
6
GreatSchools Rating

Pioneer High School

  • Education Level: High
  • # of students: 1,570
  • # of teachers: 67
9
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,870
Property Tax -$1,146
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$1,900

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$1,049,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 13.4%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$56

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $2.81

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $2.97

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4953$3,5004$3,8005$4,150
$4,150
RENT COMPS ANALYSIS
  • 1315 Ashcroft Ln San Jose, CA 1
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.81
    •  
  • 5085 Wayland Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1965
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.94
    •  
  • 5036 Noella Way San Jose, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
  • 4217 Jan Way San Jose, CA 4
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1963
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.99
    •  
  • 5012 Moonstone Ct San Jose, CA 5
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1970
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $3.02
    •  
PROPERTY LISTING DETAILS
Bert Faucher
Exp Realty Of California Inc.
BESbswy