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17230 Torrey Ct Morgan Hill, CA 95037

4 Beds 3 Baths 1,340 sqft Built 1957

$859,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $641.04
  • 2 Days on Market
  • MLS # : ML81817100
  • Updated Date : 11/02/2020 at 11:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,340 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realty Partners

Listing Agent's Description

Beautiful home located in highly sought-after West Morgan Hill! Brand new paint inside and out, wonderfully landscaped front and backyard, SO much space for gardening and entertaining, and 4-year new roof! Relax in your private garden ready for all the veggies you can imagine! Inside you will find an updated kitchen, updated bathrooms and tons of natural light. Large side yard with enough space for RV or boat storage. Walk to the farmer's market on Saturdays or to one of the amazing local restaurants Morgan Hill has to offer. Come fall in love with your new home!

SEE MORE

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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
P. A. Walsh Steam Academy Primary Regular 601 24 2
Lewis H. Britton Middle School Middle Regular 624 25 4
Live Oak High School High Regular 1,050 42 7

P. A. Walsh Steam Academy

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 24
2
GreatSchools Rating

Lewis H. Britton Middle School

  • Education Level: Middle
  • # of students: 624
  • # of teachers: 25
4
GreatSchools Rating

Live Oak High School

  • Education Level: High
  • # of students: 1,050
  • # of teachers: 42
7
GreatSchools Rating
 

$773,100$944,900$859,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$3,169
Property Tax -$876
Property Insurance -$60
Property Management Fees -$129
CASH FLOW
-$1,223

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.

$859,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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

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$233,385

INVESTMENT

$233,385

Down Payment
$214,750
Rehab Estimate
$5,750
Closing Costs
$12,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,169

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $214,750
Loan Amount $644,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,043

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
  • $2,479

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,950
$2,950
RENT COMPS ANALYSIS
  • 17230 Torrey Ct Morgan Hill, CA 1
    • 4 beds 3 baths ∙ 1,340 Sqft ∙ Built 1957 4 beds 3 baths ∙ 1,340 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16405 Church St Morgan Hill, CA 2
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1949
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.85
    •  
PROPERTY LISTING DETAILS
Christa Nielsen
Re/max Realty Partners
BESbswy