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1702 Mount Rushmore Dr San Jose, CA 95127

3 Beds 3 Baths 1,455 sqft Built 1961

$899,888

List Price

$3,610

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $618.48
  • 2 Days on Market
  • MLS # : ML81824058
  • Updated Date : 12/26/2020 at 13:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,455 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Beautiful turn key home in the foothills. You will Love the desirable floor plan. Stunning home is situated on a large corner lot and gets ample of natural light. This gorgeous home has dual pane windows, updated kitchen, Over the range Microwave Oven with Exhaust, newer bathrooms, gleaming hardwood floors, recessed lighting, fresh custom painted indoor & backyard flooring. Other features include Central Air conditioner and heater. Newly installed wooden Shed in backyard and newly installed water heater. Ready to move right in! Spend your summer entertaining in the large, resort-like backyard complete. Close to school, parks, shopping, and all transportation.

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: Mt. Pleasant

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Mt. Pleasant

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
Mt. Pleasant High School High Regular 1,452 67 6

Mt. Pleasant High School

  • Education Level: High
  • # of students: 1,452
  • # of teachers: 67
6
GreatSchools Rating
 

$809,899$989,877$899,888

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$3,320
Property Tax -$1,090
Property Insurance -$62
Property Management Fees -$141
CASH FLOW
-$1,003

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.

$899,888

PROJECTED PRICE

$3,610

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$244,220

INVESTMENT

$244,220

Down Payment
$224,972
Rehab Estimate
$5,750
Closing Costs
$13,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,320

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,972
Loan Amount $674,916
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$7,071

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
  • $4,045

    COMP ESTIMATED VALUE
  • $2.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,800
$3,800
RENT COMPS ANALYSIS
  • 1702 Mount Rushmore Dr San Jose, CA 1
    • 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2674 Flintwood Ct San Jose, CA 2
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.70
    •  
  • 1470 Mount Shasta Dr San Jose, CA 3
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
PROPERTY LISTING DETAILS
Laxmi Penupothula
Redfin
BESbswy