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14321 Jerilyn Dr San Jose, CA 95127

3 Beds 1 Baths 1,192 sqft Built 1951

$765,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $641.78
  • 6 Days on Market
  • MLS # : ML81822707
  • Updated Date : 12/08/2020 at 17:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,192 sqft
  • Baths : 1 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Perfect started home for a first time buyers. Very nice condition and ready to move in. New paint throughout the house inside and outside. Landscaping will be finished Sunday 12/13.With a big back yard patio with fruit trees for BBQ'S and kids to play outdoors. Very convenience Inside laundry with an extra space for a bathroom.

SEE MORE

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

Neighborhood: Alum Rock

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $286k1220k

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

Neighborhood: Alum Rock

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17433804

* 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
Cureton Elementary School Primary Regular 527 24 4
Joseph George Middle School Middle Regular 594 32 3
James Lick High School High Magnet 1,108 48 5

Cureton Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 24
4
GreatSchools Rating

Joseph George Middle School

  • Education Level: Middle
  • # of students: 594
  • # of teachers: 32
3
GreatSchools Rating

James Lick High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 48
5
GreatSchools Rating
 

$688,500$841,500$765,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,823
Property Tax -$904
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$712

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$765,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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$3.0M

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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$208,475

INVESTMENT

$208,475

Down Payment
$191,250
Rehab Estimate
$5,750
Closing Costs
$11,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,823

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $191,250
Loan Amount $573,750
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$11,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.68

    LIST RENT PER SQFT
  • $3,409

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,800
$3,800
RENT COMPS ANALYSIS
  • 14321 Jerilyn Dr San Jose, CA 1
    • 3 beds 1 baths ∙ 1,192 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,192 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.68
    •  
  • 1470 Mount Shasta Dr San Jose, CA 2
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
PROPERTY LISTING DETAILS
Maria Vicencio
Intero Real Estate Services
BESbswy