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1817 Clare Ct San Jose, CA 95124

3 Beds 2 Baths 1,263 sqft Built 1957

$1,289,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1957
  • Price/Sqft : $1,020.59
  • 5 Days on Market
  • MLS # : ML81818814
  • Updated Date : 11/04/2020 at 14:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,263 sqft
  • Baths : 2 full
Listing Agent

Side, Inc

Listing Agent's Description

Experience the good life in this updated Cambrian home, located just a block away from the highly desirable Steindorf K-8 STEAM School. Located on a small court, this neighborhood shows pride of ownership. The charming front yard features perimeter picket fencing including gates for the driveway. Inside, this lovely home features gleaming hardwood floors, an open floor plan with lots of natural light, a beautifully remodeled country style kitchen with gorgeous cabinetry, granite counters, stainless appliances, island with gas range, stainless hood, and breakfast bar. Updated LED lighting throughout. Both baths have been remodeled with matching cabinetry and quartz counters, while the master shower features amazing tilework, and brushed nickel shower door. Dual pane windows, central heat & A/C will keep you comfy year round. Private back yard with gazebo and fruit trees is a great place to relax, garden, or play! Close to shopping, restaurants, parks and more. Great commute location!

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
Sartorette Elementary School Primary Regular 515 21 6
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Sartorette Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 21
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
 

$1,160,100$1,417,900$1,289,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$4,756
Property Tax -$1,479
Property Insurance -$58
Property Management Fees -$141
CASH FLOW
-$2,813

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.

$1,289,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.28%

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-$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$347,335

INVESTMENT

$347,335

Down Payment
$322,250
Rehab Estimate
$5,750
Closing Costs
$19,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $322,250
Loan Amount $966,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$79

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $2.87

    LIST RENT PER SQFT
  • $3,625

    COMP ESTIMATED VALUE
  • $2.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,6203$3,7504$3,8005$4,000
$4,000
RENT COMPS ANALYSIS
  • 1817 Clare Ct San Jose, CA 2
    • 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,263 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $2.87
    •  
  • 2302 New Jersey Ave San Jose, CA 1
    • 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 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.88
    •  
  • 4217 Jan Way San Jose, CA 4
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1963
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.99
    •  
  • 1514 San Joaquin Ave San Jose, CA 5
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1954
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.80
    •  
PROPERTY LISTING DETAILS
Dale Warfel
Side, Inc
BESbswy