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1470 Mardan Dr San Jose, CA 95132

3 Beds 2 Baths 1,453 sqft Built 1969

$1,188,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $817.62
  • 5 Days on Market
  • MLS # : ML81818362
  • Updated Date : 11/14/2020 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,453 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

LOCATION, LOCATION, LOCATION, Welcome to this Gorgeous All Remodeled Home in North Valley 95132. Best school district: Ruskin Elementary School, Sierramont Middle School, and Piedmont Hills HS (Buyer to Verify ) Wonderful New Kitchen, New Bathrooms, charming home is move-in ready for a New owner to enjoy the house right away. This home features 3 bedrooms, 2 bathrooms & 1,453 sqft of open living space. Beautiful kitchen featuring Quartz countertops, tile backsplash, & stainless steel appliances. New Laminate floors throughout the house, double-pane windows and doors, and recessed lighting. Private and spacious backyard perfect for entertaining or relaxing. Near major High Tech companies. Easy access to freeway 680, 880, & 101. Close to Costco, Ranch 99, BART station, Light Rail, and proposed Google Campus. Pride of ownership shines throughout this lovely home. Make it yours today!

SEE MORE

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: Sierramont

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1266k

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

Neighborhood: Sierramont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17453804

* 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
Ruskin Elementary School Primary Regular 661 27 8
Sierramont Middle School Middle Regular 1,104 41 7
Piedmont Hills High School High Magnet 2,215 89 9

Ruskin Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 27
8
GreatSchools Rating

Sierramont Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 41
7
GreatSchools Rating

Piedmont Hills High School

  • Education Level: High
  • # of students: 2,215
  • # of teachers: 89
9
GreatSchools Rating
 

$1,069,200$1,306,800$1,188,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$4,383
Property Tax -$1,388
Property Insurance -$62
Property Management Fees -$129
CASH FLOW
-$2,672

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.

$1,188,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.2%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$45k-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$320,570

INVESTMENT

$320,570

Down Payment
$297,000
Rehab Estimate
$5,750
Closing Costs
$17,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $297,000
Loan Amount $891,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$93

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $2.26

    LIST RENT PER SQFT
  • $3,040

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,1503$3,2904$3,3505$3,800
$3,800
RENT COMPS ANALYSIS
  • 1470 Mardan Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $2.26
    •  
  • Royal Crest Dr San Jose, CA 1
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1985
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.22
    •  
  • 3342 Copper Leaf Dr San Jose, CA 2
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 1988
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.95
    •  
  • 3468 Whitman Way San Jose, CA 4
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.96
    •  
  • 2916 Cohansey Dr San Jose, CA 5
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1969
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.24
    •  
PROPERTY LISTING DETAILS
Pedro Morales
Intero Real Estate Services
BESbswy