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1710 Canna Ln San Jose, CA 95124

3 Beds 2 Baths 1,210 sqft Built 1962

$1,349,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $1,114.88
  • 3 Days on Market
  • MLS # : ML81816876
  • Updated Date : 11/06/2020 at 15:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,210 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Great Cambrian neighborhood !Views of the Los Gatos foothills.This home is move in condition with so many upgrades!Gorgeous classic oak hardwood floors throughout the living area.Step down living room with a fireplace and slider door leading to a comfortable outdoor space.Stylish paver patio with a shaded pergola and a large Tuff shed for extra storage.Enjoy the mature producing fruit trees including peach, lemon and a blueberry bush. Spacious gourmet kitchen with no detail spared.Quality custom cherrywood cabinets with soft close doors,pull outs and under cabinet LED lighting. Chef's kitchen with top of the line appliances including a pot filler and a custom pantry closet. Large custom built in buffet with a wine refrigerator wine rack and lots of extra storage.Open dining area with French doors opening to the living area. Handsomely remodeled bathroom with vaulted ceilings,a skylight,heated floors.Easy access to top ranked Union schools, major freeways, shopping, downtown Los Gatos.

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: Noddin

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Noddin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Noddin Elementary School Primary Regular 658 27 8
Union Middle School Middle Regular 976 40 9
Leigh High School High Magnet 1,665 73 9

Noddin Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 27
8
GreatSchools Rating

Union Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 40
9
GreatSchools Rating

Leigh High School

  • Education Level: High
  • # of students: 1,665
  • # of teachers: 73
9
GreatSchools Rating
 

$1,214,100$1,483,900$1,349,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$4,977
Property Tax -$1,582
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$3,535

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.

$1,349,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,235

INVESTMENT

$363,235

Down Payment
$337,250
Rehab Estimate
$5,750
Closing Costs
$20,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,250
Loan Amount $1,011,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$261

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,210

    LIST RENT
  • $2.65

    LIST RENT PER SQFT
  • $3,219

    COMP ESTIMATED VALUE
  • $2.66

    COMP AVG. RENT PER SQFT
Comps Range
$3,210
1$3,2102$3,4953$3,5004$3,7955$3,850
$3,850
RENT COMPS ANALYSIS
  • 1710 Canna Ln San Jose, CA 1
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $2.65
    •  
  • 4954 Alan Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,374 Sqft ∙ Built 1956
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.54
    •  
  • 5036 Noella Way San Jose, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
  • 1452 Ridgewood Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1959
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.51
    •  
  • 14815 Los Gatos-almaden Rd San Jose, CA 5
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.67
    •  
PROPERTY LISTING DETAILS
The Locals
Compass
BESbswy