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1725 Espana Ct Morgan Hill, CA 95037

4 Beds 3 Baths 2,383 sqft Built 2010

$1,299,000

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $545.11
  • 5 Days on Market
  • MLS # : ML81818773
  • Updated Date : 11/04/2020 at 11:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,383 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Updated two story home in prestigious Alicante of north Morgan Hill featuring 4 bedrooms and 3 full bathrooms and a formal dining room. Updated flooring, kitchen island, countertops, backsplash, range and a farm house sink. Nicely painted throughout with all new light fixtures and window coverings. The large master bath offers a walk-in-closet, dual vanities, jetted tub and a separate shower. The great room also features a cozy fireplace. Nicely manicured front and back yards. Quiet neighborhood, close to parks, hiking and biking trails. minutes to Morgan Hill Technology park and close to downtown MH. Award winning Nordstrom Elementary. This home is must see!

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

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
Nordstrom Elementary School Primary Regular 637 24 6
Martin Murphy Middle School Middle Regular 479 20 6
Live Oak High School High Regular 1,050 42 7

Nordstrom Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 24
6
GreatSchools Rating

Martin Murphy Middle School

  • Education Level: Middle
  • # of students: 479
  • # of teachers: 20
6
GreatSchools Rating

Live Oak High School

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

$1,169,100$1,428,900$1,299,000

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$4,793
Property Tax -$1,304
Property Insurance -$85
HOA -$105
Property Management Fees -$140
CASH FLOW
-$2,827

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.

$1,299,000

PROJECTED PRICE

$3,600

PROJECTED RENT

0.28%

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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$349,985

INVESTMENT

$349,985

Down Payment
$324,750
Rehab Estimate
$5,750
Closing Costs
$19,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,750
Loan Amount $974,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$72

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,600

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $3,860

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,6003$4,0004$4,050
$4,050
RENT COMPS ANALYSIS
  • 1725 Espana Ct Morgan Hill, CA 2
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.51
    •  
  • 17515 Montoya Cir Morgan Hill, CA 1
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1990
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.25
    •  
  • 17825 Calle Hermosa Morgan Hill, CA 3
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2005
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.97
    •  
  • 624 Calle Siena Morgan Hill, CA 4
    • 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,467 Sqft ∙ Built 2018
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.64
    •  
PROPERTY LISTING DETAILS
Brian Mcdermott
Intero Real Estate Services
BESbswy