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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $480.90
- 47 Days on Market
- MLS # : ML81818799
- Updated Date : 12/18/2020 at 17:53
CONSTRUCTION
- Beds : 4
- Floor Size : 2,807 sqft
- Baths : 3 full
Listing Agent
Intero Real Estate Services
Listing Agent's Description
Gorgeous upscale 4 bed, 3 bath home offers tasteful finishes in a 2-story floor plan perfect for entertaining. Upgrades throughout include: Fresh interior paint, newly refinished maple hardwood flooring, tumbled marble tile, premium textured carpeting, black out blinds in living room & bedrooms. Kitchen features granite counters, modern appliances & gas cooktop, and opens to dining nook with built in wet bar and spacious family room with vaulted ceilings. Versatile downstairs bedroom can be used as an office or bedroom, complete with built in Murphy bed. Master retreat features large Euro-Designed custom walk-in closet, 2-way fireplace, views of hills, & ensuite bath w/Carrera Marble, deep soaking jetted tub & over-sized shower. Newly designed backyard is low maintenance and ready for evenings with family and friends. Sonora Ranch offers playground, swimming pool & BBQ area. Minutes from top schools (Nordstrom Elementary), parks, trails, and downtown Morgan Hill's dining and shopping.
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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
Zip Code: 95037
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 95037
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,920 |
| EXPENSES | Loan Payment | -$4,980 |
| Property Tax | -$1,363 | |
| Property Insurance | -$95 | |
| HOA | -$190 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
-$2,862
|
||
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.
$1,349,888
PROJECTED PRICE
$3,920
PROJECTED RENT
0.29%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 8.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.19% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$363,470
LOAN DETAILS
$4,980
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $337,472 |
| Loan Amount | $1,012,416 |
-0.08
YEARS SAVED
-$63
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$3,509
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
16940 Marbella Ct Morgan Hill, CA 1
- 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $0
- $0.00
-
17515 Montoya Cir Morgan Hill, CA 2
- 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1990
LEASED 05/08/20- Rent
- Rent Per SQFT
- $3,200
- $1.25
PROPERTY LISTING DETAILS
Intero Real Estate Services
