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1565 Mission Springs Cir San Jose, CA 95131

3 Beds 3 Baths 1,630 sqft Built 1989

$1,298,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $796.32
  • 6 Days on Market
  • MLS # : ML81813602
  • Updated Date : 11/02/2020 at 08:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sv Capital Group Inc.

Listing Agent's Description

Rarely available single family house in precious location - Close to golf course with driving range, H Mart, Ranch 99, Costco, many popular retailers and restaurants. Walking distance to beautiful Townsend Park. Interior features lots of artsy details and upgrades. Elegant vaulted ceiling in living room and large master suite. Powder room on ground floor has marble counter. Two full updated bathrooms on second floor have granite counters. Modern kitchen with white porcelain marble-like tiles countertop and quality appliances. Formal dining area. Separate family room with fireplace and many windows for bringing in natural light and beautiful backyard view. Motorized blinds and designer window drapery. Hansgrohe bathroom hardwares. Home theater system. Soft close drawer cabinets. Well designed backyard with dripping irrigation system. Large two cars side by side garage. Desirable solar energy system. This house is full of thoughtful practical details waiting for you to discover.

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: Carmine - Parkmont

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Carmine - Parkmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18174493

* 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
Orchard Elementary School Primary Regular 889 41 6
Orchard Elementary School Middle Regular 889 41 6
Independence High School High Magnet 3,118 121 7

Orchard Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 41
6
GreatSchools Rating

Orchard Elementary School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 41
6
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 3,118
  • # of teachers: 121
7
GreatSchools Rating
 

$1,168,200$1,427,800$1,298,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$4,789
Property Tax -$1,493
Property Insurance -$66
Property Management Fees -$135
CASH FLOW
-$3,024

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.

$1,298,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.2%
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$4.5M

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,720

INVESTMENT

$349,720

Down Payment
$324,500
Rehab Estimate
$5,750
Closing Costs
$19,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,500
Loan Amount $973,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $2.12

    LIST RENT PER SQFT
  • $3,468

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$3,460
1$3,4602$3,5003$3,6004$3,7485$3,750
$3,750
RENT COMPS ANALYSIS
  • 1565 Mission Springs Cir San Jose, CA 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $2.12
    •  
  • 1267 Hong Kong San Jose, CA 2
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 1992
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.04
    •  
  • 1256 Formosa Dr San Jose, CA 3
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 1995
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.16
    •  
  • 1631 Valley Crest Dr San Jose, CA 4
    • 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1987
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,748
    • $2.05
    •  
  • 1676 Lederer Cir San Jose, CA 5
    • 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1986
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.26
    •  
PROPERTY LISTING DETAILS
Sophie Shen
Sv Capital Group Inc.
BESbswy