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1326 Bess Ct San Jose, CA 95128

3 Beds 3 Baths 2,570 sqft Built 1961

$1,698,000

List Price

$4,670

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $660.70
  • 8 Days on Market
  • MLS # : ML81818036
  • Updated Date : 11/21/2020 at 21:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,570 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Welcome home! This incredible house on a massive lot is right in the heart of Silicon Valley! Enjoy the serenity of its backyard haven, featuring a gated pool and hot tub, large shed partially converted to a work space, spacious covered patio, and park-like environment occupying the back portion of the stunning lot. Located in a secluded cul du sac, this home is the perfect place to relax, work, and also entertain. Inside, the kitchen has been tastefully updated with granite countertops and stainless-steel appliances, the living room is large enough to design in any number of ways, and the fantastic family room flows to the back patio. A one-of-a-kind, recently updated master suite features a double walk-in closet, spacious master bathroom, recessed lighting, and loads of natural light. This solar-powered property is nestled incredibly close to Santana Row, Downtown Campbell, Los Gatos Creek Trail, Highways 880 & 280, and much more. Come make this your forever home!

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: Downing-Whitethorne

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1254k

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

Neighborhood: Downing-Whitethorne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16683804

* 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
Castlemont Elementary School Primary Charter 724 31 6
Monroe Middle School Middle Regular 884 39 5
Del Mar High School High Regular 1,108 49 6

Castlemont Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 31
6
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 39
5
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$1,528,200$1,867,800$1,698,000

PURCHASE PRICE

$4,203$5,137$4,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,670
EXPENSES Loan Payment -$6,265
Property Tax -$1,939
Property Insurance -$89
Property Management Fees -$182
CASH FLOW
-$3,805

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.

$1,698,000

PROJECTED PRICE

$4,670

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.0%
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$6.0M

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$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$455,720

INVESTMENT

$455,720

Down Payment
$424,500
Rehab Estimate
$5,750
Closing Costs
$25,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,265

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $424,500
Loan Amount $1,273,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$129

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
  • $5,179

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9953$5,495
$5,495
RENT COMPS ANALYSIS
  • 1326 Bess Ct San Jose, CA 1
    • 3 beds 3 baths ∙ 2,570 Sqft ∙ Built 1961 3 beds 3 baths ∙ 2,570 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1596 San Gabriel Way San Jose, CA 2
    • 3 beds 3 baths ∙ 2,315 Sqft ∙ Built 1958 3 beds 3 baths ∙ 2,315 Sqft ∙ Built 1958
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.73
    •  
  • 2247 Constitution Dr San Jose, CA 3
    • 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
Bryan Martin
Intero Real Estate Services
BESbswy