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1693 Berrywood Dr San Jose, CA 95133

3 Beds 2 Baths 1,545 sqft Built 1957

$888,888

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $575.33
  • 2 Days on Market
  • MLS # : ML81818448
  • Updated Date : 11/02/2020 at 07:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,545 sqft
  • Baths : 2 full
Listing Agent

Referral Realty

Listing Agent's Description

Beautiful ranch-style home in the highly desired Ann Darling Park neighborhood! Meticulously maintained & spaciously planned 1,545 sf on 6,473 sqft lot, w/ a bright and cozy floor plan tucked away in a private neighborhood. A 3 Bedrooms, 2 Baths home w/ an over-sized 2 Car Garage. Open Beam Family Room w/ large Dual Pane doors, Hardwood Plank floors, & Plantation Shutters throughout. Custom Kitchen cabinets w/ tiled countertops, neutral white appliances, & eat-in bar-style counter. Enjoy the convenience of a single story w/ a 2nd Kitchen in the Garage, full-size laundry area, newer HVAC system, owned security system, & ready for an ADU expansion w/ separate side access. Manicured Front & Backyard with grape vines & a mature Fig tree to enjoy, w/ enough parking for RV or an extensive multi-generational household with multiple vehicles. Walking distance to schools, commute from the new Berryessa Bart Station, easy access to freeways, & minutes from SJ International Airport! A must see!

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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: Anne Darling

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Anne Darling

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
 

$799,999$977,777$888,888

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$3,280
Property Tax -$1,031
Property Insurance -$64
Property Management Fees -$130
CASH FLOW
-$1,175

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.

$888,888

PROJECTED PRICE

$3,330

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.4%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$241,305

INVESTMENT

$241,305

Down Payment
$222,222
Rehab Estimate
$5,750
Closing Costs
$13,333

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $222,222
Loan Amount $666,666
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,336

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
  • $3,461

    COMP ESTIMATED VALUE
  • $2.24

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,8004$4,100
$4,100
RENT COMPS ANALYSIS
  • 1693 Berrywood Dr San Jose, CA 1
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 522 N 20th St San Jose, CA 2
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1950
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.42
    •  
  • 1714 Seville Way San Jose, CA 3
    • 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1974
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.06
    •  
  • 1217 Pembroke Dr San Jose, CA 4
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1971
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.24
    •  
PROPERTY LISTING DETAILS
Mike Brasil
Referral Realty
BESbswy