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1551 Hamilton Ave San Jose, CA 95125

2 Beds 1 Baths 1,062 sqft Built 1936

$1,088,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $1,024.48
  • 3 Days on Market
  • MLS # : ML81820158
  • Updated Date : 11/13/2020 at 07:11
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,062 sqft
  • Baths : 1 full
Listing Agent

Sereno Group

Listing Agent's Description

CONTRACTORS. HOME BUSINESSES, ACCESSORY DWELLING UNIT BUILDERS - THIS IS THE PROJECT YOU HAVE BEEN LOOKING FOR AND SOLICITING ME FOR MULTIPLE TIMES EVERY WEEK. So here it is on a prime slice of Hamilton Avenue east of Meridian Ave across from the Shopping Center anchored by Safeway Market. High visibility with a large 9,330 square foot lot that a G. C. could build themselves a brand-new home and park his truck out front covered in advertising for remarkably high branded profile. Or modify the existing bungalow and add an ADU with premium rental. Close to downtown Willow Glen or a short drive to downtown Campbell. Call City Hall - ask about possible rezoning to a small business like many in the area. Highest and best use is the land and numerous possibilities. Family trust has owned this SFR for decades, no probate, can close quickly so don't let this one slip through your fingers. Campbell Union School District. Close to city conveniences, commute access and Renaissance in San Jose.

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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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Blackford Elementary School Primary Regular 554 23 3
Campbell Middle School Middle Regular 686 31 4
Del Mar High School High Regular 1,108 49 6

Blackford Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 23
3
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 31
4
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$979,200$1,196,800$1,088,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$4,014
Property Tax -$1,228
Property Insurance -$53
Property Management Fees -$129
CASH FLOW
-$2,134

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.

$1,088,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.0%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$294,070

INVESTMENT

$294,070

Down Payment
$272,000
Rehab Estimate
$5,750
Closing Costs
$16,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $272,000
Loan Amount $816,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$13

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
  • $3,483

    COMP ESTIMATED VALUE
  • $3.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,595
$4,595
RENT COMPS ANALYSIS
  • 1551 Hamilton Ave San Jose, CA 1
    • 2 beds 1 baths ∙ 1,062 Sqft ∙ Built 1936 2 beds 1 baths ∙ 1,062 Sqft ∙ Built 1936
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1128 Settle Ave San Jose, CA 2
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $3.28
    •  
PROPERTY LISTING DETAILS
Randy Walden
Sereno Group
BESbswy