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1547 Forrestal Ave San Jose, CA 95110

4 Beds 2 Baths 1,220 sqft Built 1952

INVESTimate

$950,000

List Price

$3,470

$3,220 - $3,720

Rent Est.

$1,079,200  ( +13.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1952
  • Price/Sqft : $778.69
  • 6 Days on Market
  • MLS # : ML81804494
  • Updated Date : 08/22/2020 at 12:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Palo Alto

Listing Agent's Description

Welcome to your new home located in a well established neighborhood of Rosemary Gardens within close proximity to the upcoming Google campus, the airport, downtown San Jose, all major freeways for a quick commute. This house is located in a corner lot and has plenty of parking space. Includes a large yard space, perfect for growing your own garden. This gem has everything you're looking for. Serious Buyers set up an appointment with a signed PEAD.

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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: Rosemary Garden

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $282k1220k

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

Neighborhood: Rosemary Garden

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200340036003800Rent in $11953804

* 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
Bachrodt Elementary School Primary Magnet 700 35 3
Burnett Middle School Middle Magnet 877 45 3
Abraham Lincoln High School High Regular 1,851 79 7

Bachrodt Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 35
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$855,000$1,045,000$950,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$3,505
Property Tax -$1,061
Property Insurance -$57
Property Management Fees -$135
CASH FLOW
-$1,288

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.

$950,000

PROJECTED PRICE

$3,470

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.60%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,621

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
  • $3,013

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,249
$3,249
RENT COMPS ANALYSIS
  • 1547 Forrestal Ave San Jose, 1
    • 4 beds 2 baths ∙ 1,220 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,220 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 130 Ferrari Ave San Jose, 2
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1948 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1948
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,249
    • $2.47
    •  
PROPERTY LISTING DETAILS
Maria Afzal
Keller Williams Palo Alto
BESbswy