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1452 Chavez Way San Jose, CA 95131

3 Beds 3 Baths 1,509 sqft Built 1993

INVESTimate

$1,280,000

List Price

$3,470

$3,220 - $3,720

Rent Est.

$1,444,224  ( +12.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $848.24
  • 6 Days on Market
  • MLS # : ML81807315
  • Updated Date : 08/24/2020 at 19:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,509 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Gold

Listing Agent's Description

Shows like a Model!!! Immaculate and Impeccable condition*Nestled in the most desirable location of North San Jose*North Facing*Next to golf course*Concrete Tile roof*New int paint*Two-story high ceiling*High quality white oak solid hardwood flooring*Tile floor in baths*Tile-faced gas fireplace*Oak cabinets,slab quartz countertop w/ full backsplash,brand new Fotile hood,stainless steel appliances,garden window in kitchen*Walk-in closets in master room*New windows and patio door*Dual pane windows,New and fully customized double cellular shades for all windows throughout the house*New recess lights throughout the house*Surrounding surveillance system*Central A/C*New outdoor composite decking in spacious backyard with new sod*Walking distance to Costco,Ranch 99,Sprouts,post office,gym,hospital,banks,restaurants,future BART station*Short commute to new Google/Apple offices & many high tech companies in N. San Jose*Easy access to Hwy 880/101/680, VTA and SJ Airport

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

Neighborhood: Townsend

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $326k1665k

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

Neighborhood: Townsend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17854493

* 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
Brooktree Elementary School Primary Regular 515 24 6
Morrill Middle School Middle Regular 729 33 7
Independence High School High Magnet 3,118 121 7

Brooktree Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 24
6
GreatSchools Rating

Morrill Middle School

  • Education Level: Middle
  • # of students: 729
  • # of teachers: 33
7
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 3,118
  • # of teachers: 121
7
GreatSchools Rating
 

$1,152,000$1,408,000$1,280,000

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$4,723
Property Tax -$1,496
Property Insurance -$64
Property Management Fees -$135
CASH FLOW
-$2,947

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.

$1,280,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.83%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$344,950

INVESTMENT

$344,950

Down Payment
$320,000
Rehab Estimate
$5,750
Closing Costs
$19,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,723

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $320,000
Loan Amount $960,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $3,486

    COMP ESTIMATED VALUE
  • $2.31

    COMP AVG. RENT PER SQFT
Comps Range
$3,470
1$3,4702$3,5803$3,7504$3,860
$3,860
RENT COMPS ANALYSIS
  • 1452 Chavez Way San Jose, 1
    • 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $2.30
    •  
  • 2193 Beech Cir San Jose, 2
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2008
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,580
    • $2.33
    •  
  • 1676 Lederer Cir San Jose, 3
    • 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1986
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.26
    •  
  • 1673 River Birch Ct San Jose, 4
    • 4 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985
    LEASED 05/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,860
    • $2.34
    •  
PROPERTY LISTING DETAILS
Frank Liu
Re/max Gold
BESbswy