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1605 Brentwood Ln Gilroy, CA 95020

3 Beds 2 Baths 1,499 sqft Built 1987

INVESTimate

$699,800

List Price

$2,920

$2,670 - $3,170

Rent Est.

$755,434  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $466.84
  • 6 Days on Market
  • MLS # : ML81807143
  • Updated Date : 08/21/2020 at 20:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,499 sqft
  • Baths : 2 full
Listing Agent

Maxreal Property

Listing Agent's Description

Excellent staring home ! Great value for this beautifully updated home in the highly desirable NORTHWEST QUADRANT Luigi Aprea Elementary & Christopher High attendance area! Cherry cabinets, quartz counter tops, glass tile backslash, stainless steel appliances, Italian tile & wood floors. Downstairs bedroom with full bath, laminate floors throughout upstairs. Low maintenance landscaping front and back with turf for lawn, drought resistant plants and vegetables, and a wonderful exterior entertaining space with deck. The master bedroom includes large walk in closet with organizers. Close to Gilroy garden and downtown. Why rent if you can own !

SEE MORE

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
Luigi Aprea Elementary School Primary Regular 729 28 7
Ascencion Solorsano Middle School Middle Regular 853 28 6
Christopher High School High Regular 1,889 80 7

Luigi Aprea Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 28
7
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Christopher High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 80
7
GreatSchools Rating
 

$629,820$769,780$699,800

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,582
Property Tax -$713
Property Insurance -$63
HOA -$170
Property Management Fees -$129
CASH FLOW
-$738

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.

$699,800

PROJECTED PRICE

$2,920

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,197

INVESTMENT

$191,197

Down Payment
$174,950
Rehab Estimate
$5,750
Closing Costs
$10,497

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,950
Loan Amount $524,850
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,674

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
  • $2,533

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9503$3,1004$3,200
$3,200
RENT COMPS ANALYSIS
  • 1605 Brentwood Ln Gilroy, 1
    • 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8808 Daffodil Pl Gilroy, 2
    • 3 beds 3 baths ∙ 1,466 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,466 Sqft ∙ Built 2002
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.33
    •  
  • 590 Eden St Gilroy, 3
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
  • 7820 Ponderosa Dr Gilroy, 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1988
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.03
    •  
PROPERTY LISTING DETAILS
Mandy Tao
Maxreal Property
BESbswy