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1524 Mount Lassen Dr San Jose, CA 95127

4 Beds 3 Baths 1,869 sqft Built 1961

$870,000

List Price

$3,430

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $465.49
  • 6 Days on Market
  • MLS # : ML81818059
  • Updated Date : 11/02/2020 at 12:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,869 sqft
  • Baths : 3 full
Listing Agent

Stanford Property

Listing Agent's Description

Welcome Home! This gorgeous 4 bed, 3 bath house is located in the lovely Mt. Pleasant area of San Jose. It has been recently remodeled and comes with a gourmet kitchen, lovely bathrooms (one with a therapeutic jacuzzi), a giant family room for games and entertaining, a formal living room with fireplace, a nicely landscaped garden and patio for outdoor entertaining, a fireplace, and a spacious two-car garage. This home is great for convenient shopping and convenient freeway access as well. Hurry on over as this home is priced to sell won't last long! House is immaculate... Buyer to receive a section I clearance at closing! See you soon!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mt. Pleasant South

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $277k1220k

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

Neighborhood: Mt. Pleasant South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17573804

* 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
Mt. Pleasant High School High Regular 1,452 67 6

Mt. Pleasant High School

  • Education Level: High
  • # of students: 1,452
  • # of teachers: 67
6
GreatSchools Rating
 

$783,000$957,000$870,000

PURCHASE PRICE

$3,087$3,773$3,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,430
EXPENSES Loan Payment -$3,210
Property Tax -$1,054
Property Insurance -$72
Property Management Fees -$134
CASH FLOW
-$1,040

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$870,000

PROJECTED PRICE

$3,430

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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$3.0M$3.5M

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$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$236,300

INVESTMENT

$236,300

Down Payment
$217,500
Rehab Estimate
$5,750
Closing Costs
$13,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $217,500
Loan Amount $652,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,681

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
  • $3,346

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,395
$3,395
RENT COMPS ANALYSIS
  • 1524 Mount Lassen Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 1,869 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,869 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3344 Flintmont Dr San Jose, CA 2
    • 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1981
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.79
    •  
PROPERTY LISTING DETAILS
Charles Fuery
Stanford Property
BESbswy