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1346 Buchanan Dr Santa Clara, CA 95051

3 Beds 2 Baths 1,329 sqft Built 1960

$1,299,888

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $978.09
  • 4 Days on Market
  • MLS # : ML81810569
  • Updated Date : 11/07/2020 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,329 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Great Santa Clara location! Fabulous floor plan highlighted by crown molding and gleaming hardwood floors. Galley kitchen with granite tops and maple cabinets leads into the dining and family room combo. Separate living room with wood burning fireplace. Complete interior paint with modern color tones. Ceiling fans and dual paned windows keep this home comfortable. Well manicured front yard and private back yard perfect for entertaining. Get to Apple campus and other companies without getting on a freeway! BBQ, picnic, relax and play at the Central Park library, International Swim Center and 52 acre Central Park-all less than 1 mile away and San Tomas Creek trail with miles of flat walking/biking trails nearby. Hungry? Coffee? need to shop? Find what you need at the Santa Clara Town Center just down the street! You'll love the neighborhood, street and 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: Santa Clara West Central

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $369k1665k

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

Neighborhood: Santa Clara West Central

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $10054493

* 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
Central Park Elementary School Primary Regular NA
Cabrillo Middle School Middle Regular 851 43 6
Santa Clara High School High Regular 1,911 82 7

Central Park Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cabrillo Middle School

  • Education Level: Middle
  • # of students: 851
  • # of teachers: 43
6
GreatSchools Rating

Santa Clara High School

  • Education Level: High
  • # of students: 1,911
  • # of teachers: 82
7
GreatSchools Rating
 

$1,169,899$1,429,877$1,299,888

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$4,796
Property Tax -$1,256
Property Insurance -$59
Property Management Fees -$134
CASH FLOW
-$2,805

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.

$1,299,888

PROJECTED PRICE

$3,440

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.8%
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$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$350,220

INVESTMENT

$350,220

Down Payment
$324,972
Rehab Estimate
$5,750
Closing Costs
$19,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,796

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,972
Loan Amount $974,916
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$58

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $2.59

    LIST RENT PER SQFT
  • $3,641

    COMP ESTIMATED VALUE
  • $2.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,390
1$3,3902$3,4403$3,7904$3,9005$4,500
$4,500
RENT COMPS ANALYSIS
  • 1346 Buchanan Dr Santa Clara, CA 2
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $2.59
    •  
  • 2915 Millar Ave Santa Clara, CA 1
    • 3 beds 2 baths ∙ 1,237 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,237 Sqft ∙ Built 1958
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $2.74
    •  
  • 962 Sunlite Dr Santa Clara, CA 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $2.59
    •  
  • 613 Harvard Ave 611 Santa Clara, CA 4
    • 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 1966
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.91
    •  
  • 2909 Toyon Dr Santa Clara, CA 5
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1963
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.72
    •  
PROPERTY LISTING DETAILS
Robert Garcia
Redfin
BESbswy