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150 Palomino Pl Gilroy, CA 95020

5 Beds 3 Baths 2,258 sqft Built 2015

$839,888

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $371.96
  • 5 Days on Market
  • MLS # : ML81823955
  • Updated Date : 12/26/2020 at 13:18
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,258 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Welcome to your dream home nestled near the west foothills of Gilroy in a lovely private neighborhood. The charming interior features a gourmet kitchen with granite counter tops, spacious island, and large pantry. Eat in kitchen adjacent to the family room, perfect for entertaining. Upstairs loft for extra living space or home office. Master suite includes dual-vanity sink and walk-in closet. High ceilings and plenty of natural light throughout this well maintained home. Premium corner lot, professional landscaping and beautiful covered entryway. Conveniently located near Gavilan College, walking trails, Beautiful Golf Courses & easy commute to San Jose.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
Las Animas Elementary School Primary Regular 681 25 6
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

Las Animas Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 25
6
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Gilroy High School

  • Education Level: High
  • # of students: 1,364
  • # of teachers: 65
5
GreatSchools Rating
 

$755,899$923,877$839,888

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$3,099
Property Tax -$856
Property Insurance -$82
HOA -$149
Property Management Fees -$135
CASH FLOW
-$851

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.

$839,888

PROJECTED PRICE

$3,470

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$228,320

INVESTMENT

$228,320

Down Payment
$209,972
Rehab Estimate
$5,750
Closing Costs
$12,598

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $209,972
Loan Amount $629,916
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,959

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
  • $3,500

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,500
$3,500
RENT COMPS ANALYSIS
  • 150 Palomino Pl Gilroy, CA 1
    • 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 100 Palomino Pl Gilroy, CA 2
    • 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2015
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
PROPERTY LISTING DETAILS
David Zaria
Compass
BESbswy