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1472 Sierra Ave San Jose, CA 95126

2 Beds 1 Baths 1,108 sqft Built 1940

INVESTimate

$949,999

List Price

$3,450

$3,200 - $3,700

Rent Est.

$1,069,984  ( +12.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1940
  • Price/Sqft : $857.40
  • 4 Days on Market
  • MLS # : ML81807442
  • Updated Date : 08/25/2020 at 16:47
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,108 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

Hidden gem in the highly sought after Rose Garden neighborhood! This charming single story home offers a spacious floor plan with a large great room and dining room. Nestled in one of the most attractive streets in Silicon Valley minutes away from the proposed Google Mega Plex, Santana Row, and walking distance to Mid-Town restaurants & nearby shops. Boasting a long driveway, front-patio, a de-attached two-car garage and enough space to entertain in the backyard. This home is perfect for anyone looking to add their finishing touches and cosmetic updates. Priced accordingly and won't last long on the market. House comes with roughly $12,000 worth of plans for re-construction and added square footage.

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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: Shasta Hanchette Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Shasta Hanchette Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800400042004400Rent in $15504493

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$854,999$1,044,999$949,999

PURCHASE PRICE

$3,105$3,795$3,450

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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$3,505
Property Tax -$1,089
Property Insurance -$54
Property Management Fees -$135
CASH FLOW
-$1,332

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.

$949,999

PROJECTED PRICE

$3,450

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.63%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,500
Loan Amount $712,499
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,113

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
  • $3,933

    COMP ESTIMATED VALUE
  • $3.55

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2503$3,5004$4,595
$4,595
RENT COMPS ANALYSIS
  • 1472 Sierra Ave San Jose, 1
    • 2 beds 1 baths ∙ 1,108 Sqft ∙ Built 1940 2 beds 1 baths ∙ 1,108 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 340 Bradley Ave San Jose, 2
    • 2 beds 1 baths ∙ 952 Sqft ∙ Built 1944 2 beds 1 baths ∙ 952 Sqft ∙ Built 1944
    LEASED 03/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $3.41
    •  
  • 1280 Hester Ave San Jose, 3
    • 2 beds 1 baths ∙ 884 Sqft ∙ Built 1924 2 beds 1 baths ∙ 884 Sqft ∙ Built 1924
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $3.96
    •  
  • 1128 Settle Ave San Jose, 4
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $3.28
    •  
PROPERTY LISTING DETAILS
Yasir Aladdin
Compass
BESbswy