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1645 Yellowstone Ave Milpitas, CA 95035

3 Beds 2 Baths 2,206 sqft Built 1965

INVESTimate

$1,275,000

List Price

$3,790

$3,540 - $4,040

Rent Est.

$1,439,603  ( +12.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $577.97
  • 6 Days on Market
  • MLS # : ML81807327
  • Updated Date : 08/24/2020 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,206 sqft
  • Baths : 2 full
Listing Agent

Legacy Real Estate & Assoc.

Listing Agent's Description

PERFECT PARKTOWN! SPECTACULAR TWO-STORY FLOORPLAN! TILE ENTRY, FORMAL LIVING ROOM, SPACIOUS DINING AREA* SEPARATE FAMILY ROOM, WOOD BEAM CEILING, FIREPLACE, KITCHEN WITH FRESHLY PAINTED CABINETS* NEW STAINLESS STEEL APPLIANCES, NEW CUSTOM INTERIOR AND EXTERIOR PAINT* NEW PLUSH CARPET & PAD, HUGE UPSTAIRS BONUS ROOM, DOUBLE PANE WINDOWS, NEWER FIXTURES,*UPDATED PLUMBING AND SEWER SYSTEM, PRISTINE LANDSCAPE, ARTIFICIAL TURF IN FRONT AND BACKYARD* ATTACHED 2-CAR GARAGE, ADDITIONAL STORAGE* METAL TILE ROOF, CONVENIENT LOCATION, CLOSE TO PARKS, SCHOOLS AND SHOPPING* AWARD WINNING SINNOTT ELEMENTARY! MUST SEE!

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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: Southeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Southeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16973804

* 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
John Sinnott Elementary School Primary Regular 780 29 9
John Sinnott Elementary School Middle Regular 780 29 9
Milpitas High School High Regular 3,105 117 9

John Sinnott Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 29
9
GreatSchools Rating

John Sinnott Elementary School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 29
9
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,147,500$1,402,500$1,275,000

PURCHASE PRICE

$3,411$4,169$3,790

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

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$1.0M$2.0M$3.0M$4.0M$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$4,704
Property Tax -$1,268
Property Insurance -$80
Property Management Fees -$148
CASH FLOW
-$2,411

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.

$1,275,000

PROJECTED PRICE

$3,790

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.91%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$343,625

INVESTMENT

$343,625

Down Payment
$318,750
Rehab Estimate
$5,750
Closing Costs
$19,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,704

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $318,750
Loan Amount $956,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$28

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
  • $3,794

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,050
$4,050
RENT COMPS ANALYSIS
  • 1645 Yellowstone Ave Milpitas, 1
    • 3 beds 2 baths ∙ 2,206 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,206 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2742 Mignon Dr San Jose, 2
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.72
    •  
PROPERTY LISTING DETAILS
Annie Culbertson
Legacy Real Estate & Assoc.
BESbswy