Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1832 Loch Ness Way San Jose, CA 95121

4 Beds 2 Baths 1,450 sqft Built 1970

INVESTimate

$898,000

List Price

$3,500

$3,250 - $3,750

Rent Est.

$1,011,777  ( +12.67%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1970
  • Price/Sqft : $619.31
  • 9 Days on Market
  • MLS # : ML81806730
  • Updated Date : 08/25/2020 at 13:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Cristina Martinez Company

Listing Agent's Description

Home sweet home! A must see home located in the desirable Evergreen area in a nice and quiet neighborhood. This well-kept home features 4 bedrooms, 2 full bathrooms, vaulted ceiling in living room with wood burning fire place. Bamboo wood flooring throughout living room and bedrooms including stairs, tile flooring in bathrooms and kitchen. Double pane windows and plantation shutters in bedrooms. Well lit and spacious kitchen/dining area, granite counter, plenty of cabinets, stainless steel appliances. Fenced swimming pool for hot summer entertaining. Updated copper pluming, covered patio, newer water heater plus other updates. Minutes away from conveniences like Silver Creek Plaza and Silver Creek Market Place. Walking distance to schools and park; John J. Montgomery Elementary, Silver Creek High and Brigadoon Park. Easy access to US-101 through Capitol Expressway. Come see this dream house!

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: Brigadoon

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $288k1220k

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

Neighborhood: Brigadoon

NeighborhoodNIR 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
John J. Montgomery Elementary School Primary Regular 587 24 4
Chaboya Middle School Middle Regular 1,124 44 9
Silver Creek High School High Magnet 2,465 93 9

John J. Montgomery Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 24
4
GreatSchools Rating

Chaboya Middle School

  • Education Level: Middle
  • # of students: 1,124
  • # of teachers: 44
9
GreatSchools Rating

Silver Creek High School

  • Education Level: High
  • # of students: 2,465
  • # of teachers: 93
9
GreatSchools Rating
 

$808,200$987,800$898,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$3,313
Property Tax -$1,078
Property Insurance -$62
Property Management Fees -$137
CASH FLOW
-$1,089

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.

$898,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.67%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$243,720

INVESTMENT

$243,720

Down Payment
$224,500
Rehab Estimate
$5,750
Closing Costs
$13,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $224,500
Loan Amount $673,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $2.41

    LIST RENT PER SQFT
  • $3,582

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,500
$3,500
RENT COMPS ANALYSIS
  • 1832 Loch Ness Way San Jose, 2
    • 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,450 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.41
    •  
  • 3289 Lantern Way San Jose, 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.47
    •  
PROPERTY LISTING DETAILS
Cristina Martinez
Cristina Martinez Company
BESbswy