Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1615 Blossom Hill Rd San Jose, CA 95124

3 Beds 2 Baths 1,220 sqft Built 1959

$1,100,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $901.64
  • 3 Days on Market
  • MLS # : ML81821056
  • Updated Date : 11/20/2020 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Kw Bay Area Estates

Listing Agent's Description

Beautiful move-in ready Cambrian home near Los Gatos border! Completely remodeled kitchen w/lots of upgrades- stainless appliances including gas stove, built-in microwave, refrigerator, soft-close cabinets/drawers, quartz countertops w/full backsplash & huge skylight pouring in lots of natural light! Bright living room w/tons of windows & built-in speakers. Hardwood floors, new paint & double pane windows. Master bath w/new flooring & extra storage. Remodeled hall bath w/granite countertop, glass tile backsplash, tiled shower walls & brushed nickel hardware. Bright & spacious backyard with pool & room for lots of entertainment. Long driveway to accommodate many cars! Attached 2-car garage with plenty of shelving & storage. Don't miss out on this centrally located, ranch-style home with top neighborhood schools (Noddin Elem, Union Middle and Leigh High). Check out the virtual tour and floor plan!

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: Noddin

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Noddin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Noddin Elementary School Primary Regular 658 27 8
Union Middle School Middle Regular 976 40 9
Leigh High School High Magnet 1,665 73 9

Noddin Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 27
8
GreatSchools Rating

Union Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 40
9
GreatSchools Rating

Leigh High School

  • Education Level: High
  • # of students: 1,665
  • # of teachers: 73
9
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$4,059
Property Tax -$1,290
Property Insurance -$57
Property Management Fees -$129
CASH FLOW
-$2,404

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.

$1,100,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$67

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $2.57

    LIST RENT PER SQFT
  • $3,139

    COMP ESTIMATED VALUE
  • $2.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,130
1$3,1302$3,4953$3,7954$3,850
$3,850
RENT COMPS ANALYSIS
  • 1615 Blossom Hill Rd San Jose, CA 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $2.57
    •  
  • 4954 Alan Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.54
    •  
  • 1452 Ridgewood Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.51
    •  
  • 14815 Los Gatos-almaden Rd San Jose, CA 4
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.67
    •  
PROPERTY LISTING DETAILS
Nicki Banucci
Kw Bay Area Estates
BESbswy