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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Shasta Hanchette Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$363,500
LOAN DETAILS
$4,981
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $337,500 |
| Loan Amount | $1,012,500 |
-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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$4,746
COMP ESTIMATED VALUE -
$3.28
COMP AVG. RENT PER SQFT
Comps Range
-
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
Compass
