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1499 Kiner Ave San Jose, CA 95125

4 Beds 3 Baths 2,156 sqft Built 1960

INVESTimate

$1,575,000

List Price

$4,910

$4,660 - $5,160

Rent Est.

$1,747,777  ( +10.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $730.52
  • 5 Days on Market
  • MLS # : ML81807234
  • Updated Date : 08/22/2020 at 08:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,156 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Vbp

Listing Agent's Description

Custom 4 BR,2.5 BA family home on a tree line street. Large country kitchen with breakfast bar & large eating area. Good size LR & FR both with cozy fireplaces. Inside laundry room off kitchen.Central air conditioning plus 2 car garage with opener. Near Park & Foxworthy shopping center with Starbucks, Zanotto's & Giorgio's resturant. This is a great family location to raise your kids.

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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: Willow Glen South - Lincoln Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen South - Lincoln Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18854493

* 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
Schallenberger Elementary School Primary Regular 531 19 6
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Schallenberger Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 19
6
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,417,500$1,732,500$1,575,000

PURCHASE PRICE

$4,419$5,401$4,910

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 $4,910
EXPENSES Loan Payment -$5,811
Property Tax -$1,759
Property Insurance -$79
Property Management Fees -$191
CASH FLOW
-$2,930

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.

$1,575,000

PROJECTED PRICE

$4,910

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.97%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$423,125

INVESTMENT

$423,125

Down Payment
$393,750
Rehab Estimate
$5,750
Closing Costs
$23,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $393,750
Loan Amount $1,181,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$33

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,910

    LIST RENT
  • $2.28

    LIST RENT PER SQFT
  • $4,926

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$4,395
1$4,3952$4,5003$4,9104$5,3505$5,495
$5,495
RENT COMPS ANALYSIS
  • 1499 Kiner Ave San Jose, 3
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $4,910
    • $2.28
    •  
  • 2532 Gerald Way San Jose, 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1950 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1950
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,395
    • $2.00
    •  
  • 1477 Husted Ave San Jose, 2
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
  • 1591 Phantom Ave San Jose, 4
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,350
    • $2.51
    •  
  • 2247 Constitution Dr San Jose, 5
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $2.30
    •  
PROPERTY LISTING DETAILS
Eric Giuffrida
Better Homes And Gardens Real Estate Vbp
BESbswy