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18280 Tolusa Pl Morgan Hill, CA 95037

3 Beds 3 Baths 2,294 sqft Built 2017

$1,350,000

List Price

$4,170

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $588.49
  • 7 Days on Market
  • MLS # : ML81822570
  • Updated Date : 12/11/2020 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,294 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

A stunning single level home located in the Misson Ranch neighborhood and it's one that you want to call home. This gorgeous home has so much to offer, from its soaring high ceilings to the impeccable upgrades throughout the house that you will enjoy. The home also boasts a beautifully manicured front and backyard for you to enjoy every day, along with a built-in bbq island. With everyone looking for the right home, trust us, this is one home that won't disappoint you at all, and as a bonus, the house also comes with a three-year-old solar system that is owned!

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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
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,753$4,587$4,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,170
EXPENSES Loan Payment -$4,981
Property Tax -$1,364
Property Insurance -$82
HOA -$77
Property Management Fees -$163
CASH FLOW
-$2,496

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.

$1,350,000

PROJECTED PRICE

$4,170

PROJECTED RENT

0.31%

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$4.5M

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$4.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$50

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,170

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $4,519

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,170
$4,170
RENT COMPS ANALYSIS
  • 18280 Tolusa Pl Morgan Hill, CA 2
    • 3 beds 3 baths ∙ 2,294 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,294 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $4,170
    • $1.82
    •  
  • 17825 Calle Hermosa Morgan Hill, CA 1
    • 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
Julio Orozco
Intero Real Estate Services
BESbswy