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1390 Magnolia Ave San Jose, CA 95126

2 Beds 3 Baths 1,447 sqft Built 1920

$1,350,000

List Price

$3,840

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1920
  • Price/Sqft : $932.96
  • 5 Days on Market
  • MLS # : ML81818266
  • Updated Date : 10/30/2020 at 17:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,447 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Charming single story home with detached apartment over large bonus room (permits unknown) in the desirable Shasta-Hanchett Neighborhood. Gleaming hardwood floors, updated kitchen with lots of built-ins make this a special place to call home. A magnificent, well maintained redwood tree outside your kitchen window provides serenity and shade. The backyard patio with its flowering bougainvillea trees provide beauty and serenity for your evening dining. All this and a delightful breakfast nook with a view of the backyard! Close to San Jose Rose Garden, Town 3 India movie theater, Whole Foods, Caltrain Station, Santana Row, and the future Google Campus.

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: Shasta Hanchette Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Shasta Hanchette Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15504493

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$4,981
Property Tax -$1,507
Property Insurance -$62
Property Management Fees -$150
CASH FLOW
-$2,860

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.

$1,350,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$57

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
  • $4,746

    COMP ESTIMATED VALUE
  • $3.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,595
$4,595
RENT COMPS ANALYSIS
  • 1390 Magnolia Ave San Jose, CA 1
    • 2 beds 3 baths ∙ 1,447 Sqft ∙ Built 1920 2 beds 3 baths ∙ 1,447 Sqft ∙ Built 1920
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1128 Settle Ave San Jose, CA 2
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $3.28
    •  
PROPERTY LISTING DETAILS
Brian Lee
Compass
BESbswy