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1338 Quail Creek Cir San Jose, CA 95120

3 Beds 2 Baths 1,827 sqft Built 1991

$1,398,000

List Price

$4,090

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $765.19
  • 6 Days on Market
  • MLS # : ML81818686
  • Updated Date : 11/07/2020 at 12:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,827 sqft
  • Baths : 2 full
Listing Agent

Maxreal

Listing Agent's Description

Beautiful home in the highly desired Glencrest neighborhood of Almaden Valley! Nestled in the tranquil Almaden foothills, with Quicksilver Trails and numerous parks. Award Winning Schools: Williams Elementary, Bret Harte Middle and Leland High. Inviting double door entry welcomes you into this Move In Ready, natural light filled home with an open floor plan. Gorgeous, bright living room with fireplace. Fabulous large master suite with spacious walk-in closet, and glass sliding door leading to the peaceful backyard. Formal dining room with graceful chandelier and sliding door to private courtyard. Gourmet kitchen with family eat-in area next to the courtyard. Gleaming engineering floor, ample storage spaces, central A/C, and community pool. Conveniently located close to schools and library, parks, trails, restaurants, shops, and Almaden Golf and Country Club. This home is a MUST SEE!

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: Glen Crest

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Glen Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Williams Elementary School Primary Regular 688 23 9
Bret Harte Middle School Middle Regular 1,215 52 8
Leland High School High Regular 1,784 71 9

Williams Elementary School

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 23
9
GreatSchools Rating

Bret Harte Middle School

  • Education Level: Middle
  • # of students: 1,215
  • # of teachers: 52
8
GreatSchools Rating

Leland High School

  • Education Level: High
  • # of students: 1,784
  • # of teachers: 71
9
GreatSchools Rating
 

$1,258,200$1,537,800$1,398,000

PURCHASE PRICE

$3,681$4,499$4,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,090
EXPENSES Loan Payment -$5,158
Property Tax -$1,693
Property Insurance -$71
HOA -$80
Property Management Fees -$160
CASH FLOW
-$3,072

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.

$1,398,000

PROJECTED PRICE

$4,090

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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-$50k-$40k-$30k-$20k-$10k$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$376,220

INVESTMENT

$376,220

Down Payment
$349,500
Rehab Estimate
$5,750
Closing Costs
$20,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,500
Loan Amount $1,048,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,090

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $4,202

    COMP ESTIMATED VALUE
  • $2.3

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$4,090
$4,090
RENT COMPS ANALYSIS
  • 1338 Quail Creek Cir San Jose, CA 2
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $4,090
    • $2.24
    •  
  • 1237 Charise Ct San Jose, CA 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1986
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.30
    •  
PROPERTY LISTING DETAILS
Mary Tian
Maxreal
BESbswy