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1366 Alvernaz Dr San Jose, CA 95121

4 Beds 3 Baths 1,799 sqft Built 1973

$969,000

List Price

$3,550

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $538.63
  • 3 Days on Market
  • MLS # : ML81821560
  • Updated Date : 11/27/2020 at 14:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,799 sqft
  • Baths : 2 full , 1 half
Listing Agent

Metis Real Estate, Inc.

Listing Agent's Description

Welcome to this thoughtfully updated nearly 1,800 square foot modernized home. First floor includes a formal entry, living room and formal dining area. Bright + open kitchen includes Milgard windows, GE brushed stainless appliances, gas range, dishwasher and refrigerator. White shaker cabinetry compliments the classic black granite counter tops. Connected to the kitchen is the family room with wood burning fireplace and open views of fruit trees in backyard. Half bathroom downstairs perfect for entertaining. Upstairs features 4 bedrooms, including the master suite, updated hall bathroom and views of the foothills. Newer oak pewter flooring, Conklin Bros carpet, halo recessed LED lighting. Updated interior + exterior paint both completed in 2018. Central AC. Conveniently located near commute friendly Highway 101 & Capitol Expressway. Surrounded by Silver Creek Country Club, Los Lagos Golf Course and Hellyer County Park. www.1366alvernaz.com

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ramblewood

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Ramblewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Ramblewood Elementary School Primary Regular 413 17 7
Ramblewood Elementary School Middle Regular 413 17 7
Andrew P. Hill High School High Magnet 2,015 87 5

Ramblewood Elementary School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 17
7
GreatSchools Rating

Ramblewood Elementary School

  • Education Level: Middle
  • # of students: 413
  • # of teachers: 17
7
GreatSchools Rating

Andrew P. Hill High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 87
5
GreatSchools Rating
 

$872,100$1,065,900$969,000

PURCHASE PRICE

$3,195$3,905$3,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,550
EXPENSES Loan Payment -$3,575
Property Tax -$1,181
Property Insurance -$71
Property Management Fees -$138
CASH FLOW
-$1,415

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$969,000

PROJECTED PRICE

$3,550

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$262,535

INVESTMENT

$262,535

Down Payment
$242,250
Rehab Estimate
$5,750
Closing Costs
$14,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,575

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $242,250
Loan Amount $726,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$818

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
  • $3,736

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,2504$3,495
$3,495
RENT COMPS ANALYSIS
  • 1366 Alvernaz Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 1,799 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,799 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3241 Rocky Water Ln San Jose, CA 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1984
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.02
    •  
  • 478 Verano Ct San Jose, CA 3
    • 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1989
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.94
    •  
  • 240 Branham Ln San Jose, CA 4
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1976
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.27
    •  
PROPERTY LISTING DETAILS
Adriane Alston
Metis Real Estate, Inc.
BESbswy