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1397 Kinsport Ln San Jose, CA 95120

4 Beds 3 Baths 2,324 sqft Built 1964

$1,590,000

List Price

$4,310

$4.1K - $4.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $684.17
  • 5 Days on Market
  • MLS # : ML81818642
  • Updated Date : 11/13/2020 at 22:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,324 sqft
  • Baths : 3 full
Listing Agent

Hestia Real Estate Inc.

Listing Agent's Description

A must see! Brand new remodeled Almaden Valley Home with the perfect floor plan! It features 2,324 Sq Ft of living space with 4 Bedrooms/3 Baths. Once you enter the vaulted-ceiling house, you'll find an open living room with the fireplace on your left. You can enjoy the beautiful mountain view from the living room. A formal dining area is on your right. The newly remodeled kitchen with stainless steel appliances has a great view of the private swimming pool. A separate family room also opens to a red-painted spacious wood deck in the backyard. There is one bedroom downstairs which is perfect for a home office. All other three bedrooms are upstairs. The spacious master bedroom has a double sink vanity and two walk-in closets. It even has its own balcony with mountain view. The house has a great location with a walking distance to TJ Martin Park. It has easy access to highway 85. It is truly a spectacular home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Almaden Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Almaden Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Los Alamitos Elementary School Primary Regular 722 24 8
Castillero Middle School Middle Regular 1,222 54 6
Pioneer High School High Regular 1,570 67 9

Los Alamitos Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 24
8
GreatSchools Rating

Castillero Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 54
6
GreatSchools Rating

Pioneer High School

  • Education Level: High
  • # of students: 1,570
  • # of teachers: 67
9
GreatSchools Rating
 

$1,431,000$1,749,000$1,590,000

PURCHASE PRICE

$3,879$4,741$4,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,310
EXPENSES Loan Payment -$5,866
Property Tax -$1,775
Property Insurance -$83
Property Management Fees -$168
CASH FLOW
-$3,583

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.

$1,590,000

PROJECTED PRICE

$4,310

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
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$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$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$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$427,100

INVESTMENT

$427,100

Down Payment
$397,500
Rehab Estimate
$5,750
Closing Costs
$23,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,866

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $397,500
Loan Amount $1,192,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$127

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
  • $4,334

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,9953$4,1004$4,9755$4,995
$4,995
RENT COMPS ANALYSIS
  • 1397 Kinsport Ln San Jose, CA 1
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1565 Puerto Vallarta Dr San Jose, CA 2
    • 5 beds 3 baths ∙ 2,278 Sqft ∙ Built 1965 5 beds 3 baths ∙ 2,278 Sqft ∙ Built 1965
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.75
    •  
  • 1014 Redmond Ct San Jose, CA 3
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.92
    •  
  • 6068 Burnbank Pl San Jose, CA 4
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1976
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,975
    • $1.90
    •  
  • 6641 Barnsdale Ct San Jose, CA 5
    • 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1978
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.89
    •  
PROPERTY LISTING DETAILS
Sala Homes Group
Hestia Real Estate Inc.
BESbswy