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1613 Inglis Ln San Jose, CA 95118

3 Beds 2 Baths 1,808 sqft Built 1959

$1,350,000

List Price

$4,150

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $746.68
  • 2 Days on Market
  • MLS # : ML81823654
  • Updated Date : 12/19/2020 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,808 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Home in same family for 40+ years shows pride of ownership. This lovely 3/2 as per county records has a bonus room in the front which can be used for home office or extra bedroom. Entire home remodeled/upgraded by licensed workmen/contractor in 2016/2017 with new flooring, electrical system upgraded, new panel installed in back, full kitchen remodel, two full bathroom remodels with upgraded modern tile styling. New water heater. Even duct work under house replaced! As of this year, new carpet in back playroom, new paint inside and out. Two large living areas for entertaining and the family to relax in. Backyard is spacious with several sheds for storage. Backyard is low maintenance and ready for your finishing touches. Separate laundry area and attached garage with plenty of cabinet space. Ideal commuter location, close to 85, shopping, restaurants, etc.. Inspections/disclosures are in. Staging/photos to follow early next week. Hurry, this one won't last!

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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: Kooser

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1311k

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

Neighborhood: Kooser

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Lietz Elementary School Primary Regular 545 23 7
Dartmouth Middle School Middle Regular 859 37 8
Branham High School High Regular 1,468 62 9

Lietz Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 23
7
GreatSchools Rating

Dartmouth Middle School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 37
8
GreatSchools Rating

Branham High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 62
9
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,735$4,565$4,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,150
EXPENSES Loan Payment -$4,981
Property Tax -$1,584
Property Insurance -$71
Property Management Fees -$162
CASH FLOW
-$2,647

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.

$1,350,000

PROJECTED PRICE

$4,150

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$10

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,150

    LIST RENT
  • $2.3

    LIST RENT PER SQFT
  • $4,556

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$3,795
1$3,7952$3,7953$3,9004$4,1505$4,595
$4,595
RENT COMPS ANALYSIS
  • 1613 Inglis Ln San Jose, CA 4
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.30
    •  
  • 1452 Ridgewood Dr San Jose, CA 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.51
    •  
  • 1810 Brighten Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.56
    •  
  • 1292 Juli Lynn Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1971
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.34
    •  
  • 5502 Taft Dr San Jose, CA 5
    • 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 1960
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $2.67
    •  
PROPERTY LISTING DETAILS
Andi Martin
Coldwell Banker Realty
BESbswy