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15360 Charmeran Ave San Jose, CA 95124

3 Beds 2 Baths 1,350 sqft Built 1949

$1,399,800

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1949
  • Price/Sqft : $1,036.89
  • 10 Days on Market
  • MLS # : ML81817357
  • Updated Date : 10/26/2020 at 00:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

Century 21-hallmark

Listing Agent's Description

The Possibilities are Grand! Nestled in a warm friendly neighborhood, this uniquely modest home has a beautiful front porch. Dual-pane windows & doors. Recessed lights. Ceiling light/fan in every bedroom. 3rd bedroom features hardwood floors, is used as a Billiard room/Media room (easy to convert it back to bedroom). Master bedroom and bathroom was added with permits by the previous owners. Breakfast on your private patio overlooking beautiful yard, garden that provides peaceful relaxation. Soak in this newer above ground Hot tub/SPA. Park-like backyard with white picket fences, artificial lawn, pebble rocks, beautiful trees, flowering shrubs, rose bushes, fruit trees, solar ground light fixtures, secluded deck that leads you to 3X12 newer shed, chicken coop, and garden area....Carlton Elementary, Union Middle, and Leigh High School.

SEE MORE

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: Cambrian Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $373k1500k

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

Neighborhood: Cambrian Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853972

* 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
Carlton Elementary School Primary Regular 705 28 9
Union Middle School Middle Regular 976 40 9
Leigh High School High Magnet 1,665 73 9

Carlton Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 28
9
GreatSchools Rating

Union Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 40
9
GreatSchools Rating

Leigh High School

  • Education Level: High
  • # of students: 1,665
  • # of teachers: 73
9
GreatSchools Rating
 

$1,259,820$1,539,780$1,399,800

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$5,165
Property Tax -$1,588
Property Insurance -$60
Property Management Fees -$140
CASH FLOW
-$3,353

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.

$1,399,800

PROJECTED PRICE

$3,600

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.1%
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$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$376,697

INVESTMENT

$376,697

Down Payment
$349,950
Rehab Estimate
$5,750
Closing Costs
$20,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,165

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,950
Loan Amount $1,049,850
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,600

    LIST RENT
  • $2.67

    LIST RENT PER SQFT
  • $3,756

    COMP ESTIMATED VALUE
  • $2.78

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6003$3,8004$3,8505$4,200
$4,200
RENT COMPS ANALYSIS
  • 15360 Charmeran Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.67
    •  
  • 5036 Noella Way San Jose, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
  • 2154 Casa Mia Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.66
    •  
  • 14815 Los Gatos-almaden Rd San Jose, CA 4
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.67
    •  
  • 4547 Tomrick Ave San Jose, CA 5
    • 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.88
    •  
PROPERTY LISTING DETAILS
Samera H. King
Century 21-hallmark
BESbswy