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1418 Lodgepole Ct Gilroy, CA 95020

3 Beds 2 Baths 1,575 sqft Built 1988

$799,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $507.30
  • 5 Days on Market
  • MLS # : ML81823912
  • Updated Date : 12/23/2020 at 08:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Lovely family home in a cul-de-sac! This single story home boasts pride of ownership and has been impeccably maintained. The kitchen features granite countertops and beautiful tile backsplash. The spacious master bedroom has an updated shower, dual sinks and walk-in closet. This great home also features vaulted ceilings, newer furnace & A/C, newer carpet and laminate, and modern pebble tec flooring. Step outside the French doors leading to the beautifully landscaped backyard that has a large patio, pergola, shed, and plenty of space for playing and entertaining. Located within walking distance to local trails, gorgeous views of hills, close to Gilroy Gardens, easy access to Santa Teresa/101 freeway and just a 35 minute drive to the beach. No HOA! Dont miss this great opportunity.

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MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
El Roble Elementary School Primary Regular 645 25 3
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

El Roble Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 25
3
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Gilroy High School

  • Education Level: High
  • # of students: 1,364
  • # of teachers: 65
5
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,948
Property Tax -$814
Property Insurance -$65
Property Management Fees -$129
CASH FLOW
-$837

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.

$799,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$8,093

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
  • $3,170

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9953$3,0004$3,0505$3,200
$3,200
RENT COMPS ANALYSIS
  • 1418 Lodgepole Ct Gilroy, CA 1
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Tennyson Dr Gilroy, CA 2
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.89
    •  
  • 8880 Carnation Ln Gilroy, CA 3
    • 4 beds 3 baths ∙ 1,428 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,428 Sqft ∙ Built 1997
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.10
    •  
  • 7955 Kipling Cir Gilroy, CA 4
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2005
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $2.03
    •  
  • 7820 Ponderosa Dr Gilroy, CA 5
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
PROPERTY LISTING DETAILS
Robin Realini
Coldwell Banker Realty
BESbswy