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1773 Wema Way San Jose, CA 95124

4 Beds 3 Baths 1,449 sqft Built 1954

$1,399,000

List Price

$4,020

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $965.49
  • 6 Days on Market
  • MLS # : ML81822625
  • Updated Date : 12/08/2020 at 00:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,449 sqft
  • Baths : 3 full
Listing Agent

Better Homes And Gardens Real Estate Vbp

Listing Agent's Description

This beautifully upgraded home is centrally located in a walking friendly, family neighborhood. Close to parks and a short drive to downtown Campbell & Willow Glen. You will experience a comforting Living Room with rich shelving for books, artwork, and family photos. Entering the Open Kitchen, you can almost hear the clinking of glasses and laughter of your loved ones during special occasions. The 5-Burner Gas Stove & Convection Oven will make even the beginner cook feel like a gourmet chef! The Master Bedroom Suite will allow you to rest in tranquility and awaken to a luxurious, hand crafted Bathroom with natural stone, Full Immersion Shower & bench, Make-Up area, and Walk-In Closet. Inside Laundry Room includes an Arts & Crafts Station. The Backyard Hot Tub will relax and rejuvenate you as you watch your favorite programs under the stars on your outside TV. Includes Plantation Shutters, Central Heat & A/C, auto lawn sprinklers, Ring Security with cameras, & a Tankless Water Heater

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: Doerr - Steindorf

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1326k

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

Neighborhood: Doerr - Steindorf

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853923

* 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
Fammatre Elementary School Primary Regular 558 22 6
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Fammatre Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 22
6
GreatSchools Rating

Price Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 43
7
GreatSchools Rating

Branham High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 62
9
GreatSchools Rating
 

$1,259,100$1,538,900$1,399,000

PURCHASE PRICE

$3,618$4,422$4,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,020
EXPENSES Loan Payment -$5,162
Property Tax -$1,605
Property Insurance -$62
Property Management Fees -$157
CASH FLOW
-$2,966

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.

$1,399,000

PROJECTED PRICE

$4,020

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.3%
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$1.0M$2.0M$3.0M$4.0M$5.0M

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$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,485

INVESTMENT

$376,485

Down Payment
$349,750
Rehab Estimate
$5,750
Closing Costs
$20,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,750
Loan Amount $1,049,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$65

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
  • $3,985

    COMP ESTIMATED VALUE
  • $2.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,5504$3,7955$4,695
$4,695
RENT COMPS ANALYSIS
  • 1773 Wema Way San Jose, CA 1
    • 4 beds 3 baths ∙ 1,449 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,449 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2302 New Jersey Ave San Jose, CA 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
    •  
  • 1836 Rochelle Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1959
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.73
    •  
  • 1810 Brighten Ave San Jose, CA 4
    • 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, CA 5
    • 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,618 Sqft ∙ Built 1960
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,695
    • $2.90
    •  
PROPERTY LISTING DETAILS
Gary Nobile
Better Homes And Gardens Real Estate Vbp
BESbswy