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1631 Babero Ave San Jose, CA 95118

3 Beds 3 Baths 1,505 sqft Built 1953

INVESTimate

$1,198,000

List Price

$3,190

$2,940 - $3,440

Rent Est.

$323,220

Investment Est.

$1,329,421  ( +10.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1953
  • Price/Sqft : $796.01
  • 2 Days on Market
  • MLS # : ML81807639
  • Updated Date : 08/25/2020 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautifully Remodeled w/ 3 Bedrooms 2 Baths apx. 1,140 ft� PLUS A Detached Accessory Dwelling Unit (ADU) w/ Additional Kitchen & Bath apx. 365 ft�! This one is not to miss w/ tons of newer improvements featuring a light & bright floor plan w/ bi-folding doors, European white oak floors, marble backsplash & Carrera granite countertops accompanied by stainless steel appliances in the kitchen. The primary bedroom includes an ensuite bath complete w/ built-in cabinets, dual sinks, frameless glass shower enclosure w/ rain shower head, & stylish tiles. Pride of ownership continues on with newer electrical, plumbing, interior paint, exterior stucco, windows, roof, pavers in the backyard, manicured front & rear landscaping, & so much more! Conveniently located near distinguished San Jose schools, Kirk Park featuring apx. 4.5 acres, Hacienda Gardens & Foxworthy Shopping Center, Highways 17/85/87/280, Silicon Valley tech companies, & an abundance of stores & eateries!

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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 South - Lincoln Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen South - Lincoln Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18854493

* 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
Schallenberger Elementary School Primary Regular 531 19 6
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Schallenberger Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 19
6
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
 

FINANCIALS

Learn how to read this

$1,078,200$1,317,800$1,198,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

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$4.0M$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$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$4.0M$4.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$4,420
Property Tax -$1,338
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$2,751

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.

$1,198,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.97%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,220

INVESTMENT

$323,220

Down Payment		 $299,500
Rehab Estimate		 $5,750
Closing Costs		 $17,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,500
Loan Amount $898,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT

  • $2.8

    LIST RENT PER SQFT

  • $3,175

    COMP ESTIMATED VALUE

  • $2.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,190
1$3,1902$3,3503$3,4004$3,4505$3,800
$3,800
RENT COMPS ANALYSIS
  • 1631 Babero Ave San Jose, 1
    • 3 beds 3 baths ∙ 1,140 Sqft ∙ Built 1953 3 beds 3 baths ∙ 1,140 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $2.80
    •  
  • 3119 Lowry Dr San Jose, 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.64
    •  
  • 2302 New Jersey Ave San Jose, 3
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1963
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.81
    •  
  • 3079 Ensalmo Ave San Jose, 4
    • 4 beds 2 baths ∙ 1,140 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,140 Sqft ∙ Built 1953
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $3.03
    •  
  • 2154 Casa Mia Dr San Jose, 5
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.66
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Chris A. Sabido
Coldwell Banker Realty

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
BESbswy