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1551 Marcia Ave San Jose, CA 95125

4 Beds 3 Baths 1,887 sqft Built 1964

INVESTimate

$1,399,000

List Price

$4,160

$3,910 - $4,410

Rent Est.

$376,485

Investment Est.

$1,566,600  ( +11.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $741.39
  • 2 Days on Market
  • MLS # : ML81807645
  • Updated Date : 08/25/2020 at 10:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,887 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Charming 2-story home on large corner lot located on desirable tree lined Willow Glen neighborhood. Private backyard with tall, mature palm trees. Separate family room with cozy fireplace. Two sliding doors from family room and dining area open to extensive backyard. Beaming newly refinished hardwood floors throughout except in family room. Well maintained property. Private front yard. Close to Park & Foxworthy shopping center with Starbucks, Zanotto's & Giorgio's resturant. Convenient location to Willow Glen downtown, parks, schools and local amenities; easy access to Silicon Valley Tech firm commute routes.

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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: 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
Schallenberger Elementary School Primary Regular 531 19 6
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Schallenberger Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 19
6
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$1,259,100$1,538,900$1,399,000

PURCHASE PRICE

$3,744$4,576$4,160

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,160
EXPENSES Loan Payment -$5,162
Property Tax -$1,562
Property Insurance -$73
Property Management Fees -$162
CASH FLOW
-$2,799

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.

$1,399,000

PROJECTED PRICE

$4,160

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.98%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,485

INVESTMENT

$376,485

Down Payment		 $349,750
Rehab Estimate		 $5,750
Closing Costs		 $20,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,750
Loan Amount $1,049,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$28

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,160

    LIST RENT

  • $2.2

    LIST RENT PER SQFT

  • $4,118

    COMP ESTIMATED VALUE

  • $2.18

    COMP AVG. RENT PER SQFT
Comps Range
$3,195
1$3,1952$3,6503$4,1604$4,5005$5,350
$5,350
RENT COMPS ANALYSIS
  • 1551 Marcia Ave San Jose, 3
    • 4 beds 3 baths ∙ 1,887 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,887 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $4,160
    • $2.20
    •  
  • 1499 Hillsdale Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1960
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.86
    •  
  • 2956 Aulin Dr San Jose, 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1958
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.03
    •  
  • 1477 Husted Ave San Jose, 4
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
  • 1591 Phantom Ave San Jose, 5
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,350
    • $2.51
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Catalina Collins
Intero Real Estate Services

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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