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1689 Castro Dr Campbell, CA 95008

4 Beds 2 Baths 2,009 sqft Built 1959

INVESTimate

$1,650,000

List Price

$4,490

$4,240 - $4,740

Rent Est.

$1,850,640  ( +12.16%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $821.30
  • 8 Days on Market
  • MLS # : ML81806828
  • Updated Date : 08/24/2020 at 18:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,009 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Beautifully updated Campbell home with no detail overlooked for comfort and design. Floor plan offers an abundance of living space, lots of natural light and maple hardwood floors. Convenient fourth bedroom at front of house can be used as a home office. Updated kitchen with custom cherry cabinets, granite counters, Viking gas range, new dishwasher and stainless steel appliances. Master suite features walk-in closet with custom drawers and shelves and the master bath has been updated with Caesarstone counters, granite tile shower and separate vanity. The bedrooms have been remodeled with sound proof insulation and solid wood doors for maximum noise reduction. Enjoy the private backyard with patio, mature landscaping, outdoor speakers, Other outstanding features include, recessed lights with dimmers, ceiling fans, double pane windows, two car garage with epoxy coated floor, copper piping, automatic sprinklers, central A/C with all new duct work, electric car charger - too much to list!

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: West Campbell

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $373k1402k

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

Neighborhood: West Campbell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2180020002200240026002800300032003400360038004000Rent in $17054100

* 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
Latimer Elementary School Primary Regular 216 11 NA
Moreland Middle School Middle Regular 1,027 40 7
Prospect High School High Regular 1,343 60 8

Latimer Elementary School

  • Education Level: Primary
  • # of students: 216
  • # of teachers: 11
NA
GreatSchools Rating

Moreland Middle School

  • Education Level: Middle
  • # of students: 1,027
  • # of teachers: 40
7
GreatSchools Rating

Prospect High School

  • Education Level: High
  • # of students: 1,343
  • # of teachers: 60
8
GreatSchools Rating
 

$1,485,000$1,815,000$1,650,000

PURCHASE PRICE

$4,041$4,939$4,490

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 $4,490
EXPENSES Loan Payment -$6,088
Property Tax -$1,846
Property Insurance -$76
Property Management Fees -$175
CASH FLOW
-$3,695

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.

$1,650,000

PROJECTED PRICE

$4,490

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.16%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$443,000

INVESTMENT

$443,000

Down Payment
$412,500
Rehab Estimate
$5,750
Closing Costs
$24,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $412,500
Loan Amount $1,237,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$124

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
  • $5,012

    COMP ESTIMATED VALUE
  • $2.5

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,5003$5,000
$5,000
RENT COMPS ANALYSIS
  • 1689 Castro Dr Campbell, 1
    • 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Chapman Dr Campbell, 2
    • 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1959
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.29
    •  
  • 1394 Heckman Way San Jose, 3
    • 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 1958
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.70
    •  
PROPERTY LISTING DETAILS
Keith Walker
Intero Real Estate Services
BESbswy