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17380 Walnut Grove Dr Morgan Hill, CA 95037

3 Beds 2 Baths 1,686 sqft Built 1994

$949,000

List Price

$3,310

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $562.87
  • 9 Days on Market
  • MLS # : ML81817395
  • Updated Date : 10/26/2020 at 08:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,686 sqft
  • Baths : 2 full
Listing Agent

Wunderlich Realty

Listing Agent's Description

Spacious single-story home with excellent floorplan, three-car garage, secure RV parking, and room for a shop or second unit! Large rooms, high ceilings and lots of natural light create a feeling of openness rarely found in a home of this size. RV, car, or boat enthusiasts will love the massive side yard with concrete pad and electric hookup. Gardeners will love the raised planter boxes in the other side yard and at the back of the lot there's a huge separate yard perfect for a shop or second unit. Come see why life is better in Morgan Hill with its vibrant downtown and endless opportunities for outdoor fun! See 3D tour here: https://my.matterport.com/show/?m=uEAPLfh86CR&brand=0

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
El Toro Elementary School Primary Regular 475 18 3
Martin Murphy Middle School Middle Regular 479 20 6
Ann Sobrato High School High Regular 1,451 62 8

El Toro Elementary School

  • Education Level: Primary
  • # of students: 475
  • # of teachers: 18
3
GreatSchools Rating

Martin Murphy Middle School

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

Ann Sobrato High School

  • Education Level: High
  • # of students: 1,451
  • # of teachers: 62
8
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$2,979$3,641$3,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,310
EXPENSES Loan Payment -$3,501
Property Tax -$959
Property Insurance -$68
Property Management Fees -$129
CASH FLOW
-$1,347

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.

$949,000

PROJECTED PRICE

$3,310

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,097

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
  • $3,327

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1953$3,3004$4,000
$4,000
RENT COMPS ANALYSIS
  • 17380 Walnut Grove Dr Morgan Hill, CA 1
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2220 Bayo Claros Cir Morgan Hill, CA 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1987
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.12
    •  
  • 17075 Saint Cecilia Lane Morgan Hill, CA 3
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2013
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.83
    •  
  • 17825 Calle Hermosa Morgan Hill, CA 4
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2005
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.97
    •  
PROPERTY LISTING DETAILS
John Wunderlich
Wunderlich Realty
BESbswy