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1627 Carmel Dr San Jose, CA 95125

4 Beds 3 Baths 2,139 sqft Built 2009

INVESTimate

$1,695,000

List Price

$5,000

$4,750 - $5,250

Rent Est.

$1,898,061  ( +11.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $792.43
  • 7 Days on Market
  • MLS # : ML81807023
  • Updated Date : 08/20/2020 at 14:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,139 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty World Dominion

Listing Agent's Description

Gorgeous custom built home in highly desirable Willow Glen neighborhood. This two story home has a spacious, open floor plan with high ceilings, many windows and plenty of natural light. There is a separate family room with a cozy fireplace, beautiful gourmet kitchen with Thermador appliances, custom built cabinets, built in microwave and large granite island. All of the windows are Milgard with lifetime warranty. All 4 bedrooms have 9 foot high doors. Master bedroom suite has coffered ceilings with a walk in closet and luxurious bathroom with soaking tub. Large fully landscaped backyard with artist studio cottage.This home has many special custom features that make it a very unique property and definitely not your typical tract home. Fantastic location near downtown Willow Glen shopping and restaurants, a block from Willow Glen Village, near parks and recreation and with easy access to freeways and public transportation.

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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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Hammer Montessori At Galarza Elementary School Primary Regular 326 11 8
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Hammer Montessori At Galarza Elementary School

  • Education Level: Primary
  • # of students: 326
  • # of teachers: 11
8
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,525,500$1,864,500$1,695,000

PURCHASE PRICE

$4,500$5,500$5,000

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$50k-$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$6.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,000
EXPENSES Loan Payment -$6,254
Property Tax -$1,893
Property Insurance -$79
Property Management Fees -$195
CASH FLOW
-$3,420

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.

$1,695,000

PROJECTED PRICE

$5,000

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.98%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$454,925

INVESTMENT

$454,925

Down Payment
$423,750
Rehab Estimate
$5,750
Closing Costs
$25,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $423,750
Loan Amount $1,271,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$38

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,000

    LIST RENT
  • $2.34

    LIST RENT PER SQFT
  • $5,091

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$4,400
1$4,4002$5,000
$5,000
RENT COMPS ANALYSIS
  • 1627 Carmel Dr San Jose, 2
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.34
    •  
  • 2911 Rubino Cir San Jose, 1
    • 4 beds 3 baths ∙ 1,848 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,848 Sqft ∙ Built 1999
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.38
    •  
PROPERTY LISTING DETAILS
Carol Pefley
Realty World Dominion
BESbswy