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1514 Redmond Ave San Jose, CA 95120

4 Beds 3 Baths 2,156 sqft Built 1979

$1,549,950

List Price

$4,060

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $718.90
  • 6 Days on Market
  • MLS # : ML81824641
  • Updated Date : 01/07/2021 at 09:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,156 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Nested in the highly desirable location of Oak Canyon (Almaden Valley) .Walk to top performing school, Guadalupe Elementary School, Dartmouth Middle School and Leigh High School. Stunning home in a wonderful quiet location. Bright open flowing floorplan w/ soaring ceilings, lots of light, beautiful hardwood floors, Fantastic ground level master suite w/ jetted tub, granite counters, and vaulted ceiling. Great open kitchen/family room combo. perfect for entertaining. gorgeous private backyard w/ custom paver patio and a small sport court . Spacious indoor living space and large 8000+ sqft lot. w/ A/C and central heating system. Convenient to shopping center, major route highway 85 & 87.

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: Oak Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700kPrice in $380k1763k

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

Neighborhood: Oak Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q220002200240026002800300032003400360038004000420044004600Rent in $19074761

* 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
Guadalupe Elementary School Primary Regular 558 24 9
Dartmouth Middle School Middle Regular 859 37 8
Branham High School High Regular 1,468 62 9

Guadalupe Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 24
9
GreatSchools Rating

Dartmouth Middle School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 37
8
GreatSchools Rating

Branham High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 62
9
GreatSchools Rating
 

$1,394,955$1,704,945$1,549,950

PURCHASE PRICE

$3,654$4,466$4,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,060
EXPENSES Loan Payment -$5,384
Property Tax -$1,818
Property Insurance -$79
Property Management Fees -$158
CASH FLOW
-$3,379

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.

$1,549,950

PROJECTED PRICE

$4,060

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$416,487

INVESTMENT

$416,487

Down Payment
$387,488
Rehab Estimate
$5,750
Closing Costs
$23,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,384

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $387,488
Loan Amount $1,162,463
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,060

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $4,140

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,995
1$3,9952$4,0603$4,1004$4,1955$4,875
$4,875
RENT COMPS ANALYSIS
  • 1514 Redmond Ave San Jose, CA 2
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $4,060
    • $1.88
    •  
  • 1565 Puerto Vallarta Dr San Jose, CA 1
    • 5 beds 3 baths ∙ 2,278 Sqft ∙ Built 1965 5 beds 3 baths ∙ 2,278 Sqft ∙ Built 1965
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.75
    •  
  • 1014 Redmond Ct San Jose, CA 3
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 1967
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.92
    •  
  • 1696 Via Cortina San Jose, CA 4
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1997
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $2.00
    •  
  • 5876 Sentinel St San Jose, CA 5
    • 4 beds 2 baths ∙ 2,423 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,423 Sqft ∙ Built 1976
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,875
    • $2.01
    •  
PROPERTY LISTING DETAILS
Yvonne Yang
Compass
BESbswy