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1356 Main St Santa Clara, CA 95050

4 Beds 3 Baths 2,500 sqft Built 1926

$1,949,000

List Price

$5,910

$5.7K - $6.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1926
  • Price/Sqft : $779.60
  • 3 Days on Market
  • MLS # : ML81826014
  • Updated Date : 01/15/2021 at 16:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,500 sqft
  • Baths : 3 full
Listing Agent

Realty World-relocation Express

Listing Agent's Description

Nathan H. Downing House, Built in 1887. Queen Anne Cottage. This beautiful home has 4 Bedrooms and 3 Full Bathrooms with a separate office. The Home has 2500 square feet. Completely restored and approved by the Santa Clara Planning Department with approval from the Santa Clara Historical Committee. This home is a potential Mills Act property. Check with the City of Santa Clara. Here are the upgrades that have been done to the home. Concrete foundation with hold downs, 200 Amp electric service fuse box. Grounded Romex wiring, Outlets, switches, lighting.Water piping, Gas piping, Sewer piping, Water main. Automatic Landscape sprinklers, Composition roof shingles. Newer Roof gutters with downspouts. Replaced lathe and plaster with sheet rock. Hugh 9,634 square foot lot. Plans drawn up for a 600 square foot ADU cottage.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Old Quad

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1373k

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

Neighborhood: The Old Quad

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200340036003800Rent in $8793824

* 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
Westwood Elementary School Primary Regular 443 19 7
Buchser Middle School Middle Regular 1,007 46 5
Santa Clara High School High Regular 1,911 82 7

Westwood Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 19
7
GreatSchools Rating

Buchser Middle School

  • Education Level: Middle
  • # of students: 1,007
  • # of teachers: 46
5
GreatSchools Rating

Santa Clara High School

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

$1,754,100$2,143,900$1,949,000

PURCHASE PRICE

$5,319$6,501$5,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,910
EXPENSES Loan Payment -$6,770
Property Tax -$1,873
Property Insurance -$87
Property Management Fees -$230
CASH FLOW
-$3,050

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.

$1,949,000

PROJECTED PRICE

$5,910

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.4%
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$7.0M$8.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0$10k

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$7.0M$8.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$522,235

INVESTMENT

$522,235

Down Payment
$487,250
Rehab Estimate
$5,750
Closing Costs
$29,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$6,770

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $487,250
Loan Amount $1,461,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$199

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
  • $9,625

    COMP ESTIMATED VALUE
  • $3.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8,500
$8,500
RENT COMPS ANALYSIS
  • 1356 Main St Santa Clara, CA 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1926 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1926
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1267 Lafayette St Santa Clara, CA 2
    • 5 beds 3 baths ∙ 2,206 Sqft ∙ Built 1920 5 beds 3 baths ∙ 2,206 Sqft ∙ Built 1920
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,500
    • $3.85
    •  
PROPERTY LISTING DETAILS
Fred Raia
Realty World-relocation Express
BESbswy