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18665 Aspesi Dr Saratoga, CA 95070

4 Beds 3 Baths 1,900 sqft Built 1958

$1,799,000

List Price

$4,460

$4.2K - $4.7K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $946.84
  • 5 Days on Market
  • MLS # : ML81825591
  • Updated Date : 01/13/2021 at 10:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Pristinely maintained ranch home in a premier Saratoga location, this executive property boasts many important capital upgrades: Newer oversized double pane windows shower this interior with light showing off the extremely functional floor plan; newer composition roof, newer front yard landscaping and more. The interior is extremely clean with gleaming oak flooring and perfectly preserved original features. The home comprises 1900 SF of open living space on nearly a quarter acre lot, 4 bedrooms (currently 3 with oversized master) 2.5 bathrooms. The location of this home is also second to none, centrally located in the Silicon Valley close to all the tech centers, with a close drive to many shopping and dining experiences in Saratoga Village, Downtown LG, and Campbell. Finally, the schools are excellent with Marshall Lane Elementary and Rolling Hills Middle School assigned to the location.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Aspesi-Ravenwood

NeighborhoodNIR Market*CityMarket2010Year20002019600k800k1000k1200k1400k1600k1800k2000k2200k2400k2600kPrice in $411k2769k

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

Neighborhood: Aspesi-Ravenwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000250030003500400045005000550060006500Rent in $19076528

* 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
Marshall Lane Elementary School Primary Charter 575 24 9
Rolling Hills Middle School Middle Regular 985 45 7
Westmont High School High Regular 1,537 68 8

Marshall Lane Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 24
9
GreatSchools Rating

Rolling Hills Middle School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 45
7
GreatSchools Rating

Westmont High School

  • Education Level: High
  • # of students: 1,537
  • # of teachers: 68
8
GreatSchools Rating
 

$1,619,100$1,978,900$1,799,000

PURCHASE PRICE

$4,014$4,906$4,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,460
EXPENSES Loan Payment -$6,249
Property Tax -$1,894
Property Insurance -$73
Property Management Fees -$174
CASH FLOW
-$3,929

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.

$1,799,000

PROJECTED PRICE

$4,460

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$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$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$482,485

INVESTMENT

$482,485

Down Payment
$449,750
Rehab Estimate
$5,750
Closing Costs
$26,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,249

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $449,750
Loan Amount $1,349,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,460

    LIST RENT
  • $2.35

    LIST RENT PER SQFT
  • $5,026

    COMP ESTIMATED VALUE
  • $2.65

    COMP AVG. RENT PER SQFT
Comps Range
$4,460
1$4,4602$4,5003$5,0004$5,9505$5,995
$5,995
RENT COMPS ANALYSIS
  • 18665 Aspesi Dr Saratoga, CA 1
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $4,460
    • $2.35
    •  
  • 6359 Prospect Rd San Jose, CA 2
    • 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1969
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.48
    •  
  • 1394 Heckman Way San Jose, CA 3
    • 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 1958
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.70
    •  
  • 12488 Scully Ave Saratoga, CA 4
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1968
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,950
    • $2.70
    •  
  • 20398 Kilbride Ct Saratoga, CA 5
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1967
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,995
    • $2.70
    •  
PROPERTY LISTING DETAILS
Rusty Paap
Intero Real Estate Services
BESbswy