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16920 Fremont Ct Morgan Hill, CA 95037

4 Beds 3 Baths 1,790 sqft Built 2012

INVESTimate

$829,950

List Price

$3,450

$3,200 - $3,700

Rent Est.

$901,243  ( +8.59%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $463.66
  • 8 Days on Market
  • MLS # : ML81806852
  • Updated Date : 08/22/2020 at 05:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,790 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Great 4-bedroom, 2.5-bath home in the Heart of Morgan Hill. Large living area/open kitchen with island, granite slab and stainless-steel appliances. Neutral colors throughout, indoor laundry, and a 2-car garage. Nice yard, with paver patio. Walking distance to downtown shops, eateries and craft beer locations.

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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
P. A. Walsh Steam Academy Primary Regular 601 24 2
Lewis H. Britton Middle School Middle Regular 624 25 4
Ann Sobrato High School High Regular 1,451 62 8

P. A. Walsh Steam Academy

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 24
2
GreatSchools Rating

Lewis H. Britton Middle School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 25
4
GreatSchools Rating

Ann Sobrato High School

  • Education Level: High
  • # of students: 1,451
  • # of teachers: 62
8
GreatSchools Rating
 

$746,955$912,945$829,950

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$3,062
Property Tax -$846
Property Insurance -$70
HOA -$130
Property Management Fees -$135
CASH FLOW
-$793

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.

$829,950

PROJECTED PRICE

$3,450

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.59%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,687

INVESTMENT

$225,687

Down Payment
$207,488
Rehab Estimate
$5,750
Closing Costs
$12,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,488
Loan Amount $622,463
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$10,976

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
  • $3,276

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,300
$3,300
RENT COMPS ANALYSIS
  • 16920 Fremont Ct Morgan Hill, 1
    • 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17075 Saint Cecilia Lane Morgan Hill, 2
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2013
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.83
    •  
PROPERTY LISTING DETAILS
Karen Nelsen
Intero Real Estate Services
BESbswy