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1324 Ridgewood Dr San Jose, CA 95118

3 Beds 2 Baths 1,700 sqft Built 1973

$1,249,888

List Price

$3,900

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $735.23
  • 5 Days on Market
  • MLS # : ML81820715
  • Updated Date : 11/20/2020 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

This gorgeously remodeled 3 bed 2 bath one story Cambrian ranch style home is conveniently nestled in desirable neighborhood. Beautifully updated kitchen w/ white cabinetry, quartz countertops, tiled backsplash, stainless steel appliances, gas range, breakfast bar, custom light fixtures, S/S farmers sink, built-in microwave & pantry w/ barn door. Kitchen family room combination w/ gas fireplace & marble surround. Formal dining room w/ custom chandelier. Formal living room w/ cathedral ceiling. Throughout home you will find Italian porcelain tile floors, recessed lighting, crown moulding & custom base boards. Remodeled bathrooms. Master bath w/ double sinks, quartz countertop, custom tile, custom lighting & shower over tub w/ seamless glass door. Built-in linen storage cabinets. Central forced heating & air conditioning. Large lot w/ mature landscaping, patio decking & fruit trees. Finished 2 car garage w/ storage cabinets & epoxy flooring. Close to all major shopping, schools & parks.

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: Dentwood-Soutbridge

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1311k

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

Neighborhood: Dentwood-Soutbridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Almaden Elementary School Primary Regular 389 13 4
Castillero Middle School Middle Regular 1,222 54 6
Pioneer High School High Regular 1,570 67 9

Almaden Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 13
4
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
 

$1,124,899$1,374,877$1,249,888

PURCHASE PRICE

$3,510$4,290$3,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,900
EXPENSES Loan Payment -$4,612
Property Tax -$1,396
Property Insurance -$68
Property Management Fees -$152
CASH FLOW
-$2,327

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.

$1,249,888

PROJECTED PRICE

$3,900

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.6%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$336,970

INVESTMENT

$336,970

Down Payment
$312,472
Rehab Estimate
$5,750
Closing Costs
$18,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,472
Loan Amount $937,416
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$35

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,900

    LIST RENT
  • $2.29

    LIST RENT PER SQFT
  • $4,331

    COMP ESTIMATED VALUE
  • $2.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,7953$3,9004$3,9005$4,000
$4,000
RENT COMPS ANALYSIS
  • 1324 Ridgewood Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.29
    •  
  • 4954 Alan Ave San Jose, CA 1
    • 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.54
    •  
  • 1452 Ridgewood Dr San Jose, CA 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.51
    •  
  • 1292 Juli Lynn Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.34
    •  
  • 1514 San Joaquin Ave San Jose, CA 5
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1954
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.80
    •  
PROPERTY LISTING DETAILS
Laxmi Penupothula
Redfin
BESbswy