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1682 E San Fernando St San Jose, CA 95116

3 Beds 2 Baths 1,320 sqft Built 1938

$798,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1938
  • Price/Sqft : $604.55
  • 5 Days on Market
  • MLS # : ML81818120
  • Updated Date : 11/02/2020 at 08:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Palo Alto

Listing Agent's Description

Spacious & conveniently located, this home offers 3 bedrooms, 2 baths & bonus room in 1,320 sq. ft. on a lot of 5,360 sq. ft. The airy combined living & dining room provides plentiful space for gathering & the kitchen, with freshly painted cabinets and new floors, is adjacent allowing for easy entertaining. Throughout most of the home, including the 3 spacious bedrooms, enjoy bamboo floors, recessed lighting & multiple sliding doors to the yard. The bonus room could easily be used as a bedroom or office. Inside laundry room with sink round out the home. There is plenty of storage with 2 rooms off of the detached garage, which has space for 2 cars. A long driveway allows for oversized vehicles & a low maintenance yard. Walking distance to shopping & dining on Alum Rock Ave. & only 3 min. to 101 for easy commuting. This property is a perfect starter home, investment property & offers a multitude of other possibilities.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Little Portugal South

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $246k1220k

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

Neighborhood: Little Portugal South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16343804

* 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
Anne Darling Elementary School Primary Regular 462 25 3
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Anne Darling Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 25
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

$718,200$877,800$798,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,944
Property Tax -$926
Property Insurance -$59
Property Management Fees -$129
CASH FLOW
-$858

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$798,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 14.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$217,220

INVESTMENT

$217,220

Down Payment
$199,500
Rehab Estimate
$5,750
Closing Costs
$11,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,944

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,500
Loan Amount $598,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,377

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
  • $2,996

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1503$3,500
$3,500
RENT COMPS ANALYSIS
  • 1682 E San Fernando St San Jose, CA 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1938 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1938
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 263 Washington St San Jose, CA 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.12
    •  
  • 522 N 20th St San Jose, CA 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.42
    •  
PROPERTY LISTING DETAILS
Heng Seroff Group
Keller Williams Palo Alto
BESbswy