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1474 Shasta Ave San Jose, CA 95126

3 Beds 2 Baths 1,715 sqft Built 1932

$1,645,000

List Price

$3,980

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1932
  • Price/Sqft : $959.18
  • 12 Days on Market
  • MLS # : ML81824838
  • Updated Date : 01/16/2021 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,715 sqft
  • Baths : 1 full , 1 half
Listing Agent

Compass

Listing Agent's Description

This amazing Spanish bungalows is perfectly situated on one of the most beautiful tree-lined streets in the Bay area. Located in the historic Shasta Hanchett neighborhood in the Rose Garden. Enjoy this magnificent period architecture tastefully restored to combine every original charming detail with the modern amenities. Original archways, classic ceiling framing, Carrera marble counter tops, custom new cabinetry with inset doors for that timeless look. All stainless-steel appliances, hardwood floors and more*** Amazing Charm and Immaculate Like New*** Enjoy coffee on your front porch with views of your precious neighborhood Architecture and entertain guests in the private rear yard with meticulous professional landscaping planned for todays indoor / outdoor lifestyle. Architectural plans are available for converting existing 1/2 bath to a full bath. Please call for Showing appointments starting On Monday 1/18. All showing will follow government mandated COVID protocol.

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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
 

$1,480,500$1,809,500$1,645,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,980
EXPENSES Loan Payment -$5,714
Property Tax -$1,837
Property Insurance -$69
Property Management Fees -$155
CASH FLOW
-$3,794

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.

$1,645,000

PROJECTED PRICE

$3,980

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$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$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$441,675

INVESTMENT

$441,675

Down Payment
$411,250
Rehab Estimate
$5,750
Closing Costs
$24,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,714

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $411,250
Loan Amount $1,233,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$195

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
  • $4,408

    COMP ESTIMATED VALUE
  • $2.57

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,1503$4,2504$5,000
$5,000
RENT COMPS ANALYSIS
  • 1474 Shasta Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1932
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 471 Jefferson St Santa Clara, CA 2
    • 4 beds 2 baths ∙ 1,613 Sqft ∙ Built 1930 4 beds 2 baths ∙ 1,613 Sqft ∙ Built 1930
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.57
    •  
  • 1011 Camino Ramon San Jose, CA 3
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1938 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1938
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.36
    •  
  • 1567 Mcdaniel Ave San Jose, CA 4
    • 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1930
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.78
    •  
PROPERTY LISTING DETAILS
Benjamin Guilardi
Compass
BESbswy