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161 Cleaves Ave San Jose, CA 95126

3 Beds 2 Baths 2,148 sqft Built 1948

$1,199,000

List Price

$4,100

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1948
  • Price/Sqft : $558.19
  • 18 Days on Market
  • MLS # : ML81820940
  • Updated Date : 12/04/2020 at 10:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,148 sqft
  • Baths : 1 full , 1 half
Listing Agent

Real Estate Experts

Listing Agent's Description

Recently remodeled St. Leo's masterpiece! Ideal open floor plan with spacious living room with tray ceiling, hardwood flooring, recessed lighting, elegant fireplace, & floor-to-ceiling windows offering lots of natural light. Formal dining space leading to well maintained kitchen with tile flooring, granite counters, and plenty of storage. Finished basement converted to studio with porcelain wood-look flooring, perfect for use as guest bedroom, media room, workout studio, or home office. Beautifully landscaped front yard with security wall offering privacy and seclusion. New electrical and plumbing. Over 220K in improvements. Large backyard with paved patio seating area, lawn, and plenty of space for gardening. Great central location, just 1/2 mile to San Jose Diridon Station & proposed Google Village. Close to SAP Center and Downtown San Jose restaurants, San Pedro Square, nightlife, and more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: St. Leo's

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $348k1220k

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

Neighborhood: St. Leo's

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21400160018002000220024002600280030003200340036003800Rent in $12713804

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

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

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,690$4,510$4,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,100
EXPENSES Loan Payment -$4,424
Property Tax -$1,339
Property Insurance -$79
Property Management Fees -$160
CASH FLOW
-$1,901

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.

$1,199,000

PROJECTED PRICE

$4,100

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 14.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$241

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
  • $5,649

    COMP ESTIMATED VALUE
  • $2.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,2503$5,795
$5,795
RENT COMPS ANALYSIS
  • 161 Cleaves Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1948 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 1948
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1011 Camino Ramon San Jose, CA 2
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1938 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1938
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.36
    •  
  • 1447 Brookdale Dr San Jose, CA 3
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 1955 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 1955
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,795
    • $2.90
    •  
PROPERTY LISTING DETAILS
Brett Jennings Group
Real Estate Experts
BESbswy