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1711 Marina Way San Jose, CA 95125

3 Beds 2 Baths 1,429 sqft Built 1956

INVESTimate

$1,295,000

List Price

$3,680

$3,430 - $3,930

Rent Est.

$1,450,141  ( +11.98%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1956
  • Price/Sqft : $906.23
  • 9 Days on Market
  • MLS # : ML81806636
  • Updated Date : 08/25/2020 at 12:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,429 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Wonderful updated one-story ranch style home in Willow Glen. Kitchen with new granite counters, subway tiled backsplash, all new stainless steel oven, dishwasher, microwave, sink, glass cooktop. Original inside brick BBQ with original parts. Formal living & dining room combination with cathedral ceiling. Spacious bedrooms. Updated baths with tiled surfaces. All new interior lighting throughout. Refinished wood floors throughout. New hardware throughout. Freshly painted interior/exterior. Double pane windows and sliders. Plantation shutters. Central forced heating and air-conditioning. Large back yard with mature landscaping. 2 car attached garage. Close to all major shopping, commute routes, restaurants, and coffee houses.

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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Blackford Elementary School Primary Regular 554 23 3
Campbell Middle School Middle Regular 686 31 4
Del Mar High School High Regular 1,108 49 6

Blackford Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 23
3
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 31
4
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$1,165,500$1,424,500$1,295,000

PURCHASE PRICE

$3,312$4,048$3,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,680
EXPENSES Loan Payment -$4,778
Property Tax -$1,454
Property Insurance -$62
Property Management Fees -$144
CASH FLOW
-$2,757

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.

$1,295,000

PROJECTED PRICE

$3,680

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.98%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$348,925

INVESTMENT

$348,925

Down Payment
$323,750
Rehab Estimate
$5,750
Closing Costs
$19,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,778

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $323,750
Loan Amount $971,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$62

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
  • $4,173

    COMP ESTIMATED VALUE
  • $2.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,7954$4,9955$5,495
$5,495
RENT COMPS ANALYSIS
  • 1711 Marina Way San Jose, 1
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2302 New Jersey Ave San Jose, 2
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1963
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.81
    •  
  • 1810 Brighten Ave San Jose, 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.56
    •  
  • 2432 Fairoak Ct San Jose, 4
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1960
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $3.09
    •  
  • 1034 Laurie Ave San Jose, 5
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1941 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1941
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $3.22
    •  
PROPERTY LISTING DETAILS
William Lister
Coldwell Banker Realty
BESbswy