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143 Lusitano Way Gilroy, CA 95020

4 Beds 3 Baths 2,440 sqft Built 2015

INVESTimate

$745,000

List Price

$3,530

$3,280 - $3,780

Rent Est.

$804,227  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $305.33
  • 6 Days on Market
  • MLS # : ML81807211
  • Updated Date : 08/24/2020 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,440 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fireside Realty

Listing Agent's Description

Welcome to your dream home nestled near the west foothills of Gilroy. This beautiful 4bd/2.5ba 2,440 sqft home loaded w/+$50K in builder upgrades is the largest floorplan within Oak Place. At only 5 yrs old, it's truly move-in ready! Hand scraped flooring, spacious greatroom, tall ceilings, massive kitchen w/prem. cabinets & countertops, food pantry, downstairs office den, a � bath off the dining area, & you're only on the 1st floor! Upstairs is another L/R, two spare rooms, & a full bath w/shower, tub & double sink. The mstr bdrm is huge w/no shortage of room & closet space. The mstr bath features a huge tub, glass shower stall & spacious double sink. The backyard is equipped w/pavers, a wooden arbor, fountain & wine barrel planters. There's a gravel dog run that leads to another garden area w/planter boxes, all equipped w/drip irrig. & cafe lights. Custom garage shelving, wired security, prem. window treatments & carpeting, all appliances are included & select furniture is for sale.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Las Animas Elementary School Primary Regular 681 25 6
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

Las Animas Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 25
6
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
 

$670,500$819,500$745,000

PURCHASE PRICE

$3,177$3,883$3,530

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,530
EXPENSES Loan Payment -$2,749
Property Tax -$759
Property Insurance -$86
HOA -$149
Property Management Fees -$138
CASH FLOW
-$351

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.

$745,000

PROJECTED PRICE

$3,530

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$203,175

INVESTMENT

$203,175

Down Payment
$186,250
Rehab Estimate
$5,750
Closing Costs
$11,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,749

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $186,250
Loan Amount $558,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$33,153

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,530

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $3,782

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,530
$3,530
RENT COMPS ANALYSIS
  • 143 Lusitano Way Gilroy, 2
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,530
    • $1.45
    •  
  • 100 Palomino Pl Gilroy, 1
    • 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2015
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
PROPERTY LISTING DETAILS
Shirin Menbari
Fireside Realty
BESbswy