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1893 La Porte Ave San Jose, CA 95122

3 Beds 2 Baths 1,040 sqft Built 1959

$725,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $697.12
  • 3 Days on Market
  • MLS # : BE40929270
  • Updated Date : 11/14/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Well maintained 3BD/2BA home. Move-in condition! Spacious Backyard. Perfect for first time homebuyers. Easy access to 280 and 101. Must See!

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: Dorsa-Miller

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $264k1220k

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

Neighborhood: Dorsa-Miller

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17293804

* 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
Meyer School Primary Regular 548 25 5
Clyde L. Fischer Middle School Middle Regular 497 26 2
William C. Overfelt High School High Regular 1,455 66 3

Meyer School

  • Education Level: Primary
  • # of students: 548
  • # of teachers: 25
5
GreatSchools Rating

Clyde L. Fischer Middle School

  • Education Level: Middle
  • # of students: 497
  • # of teachers: 26
2
GreatSchools Rating

William C. Overfelt High School

  • Education Level: High
  • # of students: 1,455
  • # of teachers: 66
3
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,675
Property Tax -$888
Property Insurance -$52
Property Management Fees -$129
CASH FLOW
-$624

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$725,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$13,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $3

    LIST RENT PER SQFT
  • $3,130

    COMP ESTIMATED VALUE
  • $3.01

    COMP AVG. RENT PER SQFT
Comps Range
$3,120
1$3,1202$3,5003$3,8004$3,950
$3,950
RENT COMPS ANALYSIS
  • 1893 La Porte Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $3.00
    •  
  • 2224 Cinderella Ln San Jose, CA 2
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1959
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.88
    •  
  • 1470 Mount Shasta Dr San Jose, CA 3
    • 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,328 Sqft ∙ Built 1959
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.86
    •  
  • 1626 Marsh St San Jose, CA 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $3.29
    •  
PROPERTY LISTING DETAILS
Heidy Kenner
Compass
BESbswy