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1903 Potrero Dr San Jose, CA 95124

3 Beds 1 Baths 930 sqft Built 1952

$898,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1952
  • Price/Sqft : $965.59
  • 3 Days on Market
  • MLS # : ML81819027
  • Updated Date : 11/07/2020 at 14:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 930 sqft
  • Baths : 1 full
Listing Agent

Compass

Listing Agent's Description

This San Jose charmer is sure to please. Located in a wonderful neighborhood, this home sits along a nice, tree-lined drive. Very well kept up, it fits all your needs. Pull your car onto a newer driveway, into the extra-long garage and walk through to a big back yard, ready for your own personal touch. The covered patio finished with pavers allows for a great shaded barbecue location, or maybe the dry, covered, patio area is for a relaxing hot tub location on a rainy day! The large Tough Shed in the yard allows for extra storage and maybe even your future home office or gym. Amazing shopping areas nearby, including the International Food Bazaar! Close to major hospitals and highly rated schools, this fabulously located home in San Jose has easy access to Silicon Valleys high-tech companies. What more could you want! Make an appointment today!

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: Cambrian

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Cambrian

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Fammatre Elementary School Primary Regular 558 22 6
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Fammatre Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 22
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
 

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

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$3,313
Property Tax -$1,030
Property Insurance -$50
Property Management Fees -$129
CASH FLOW
-$1,462

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

$3,060

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

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 75% 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

0.17

YEARS SAVED

$135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $3.29

    LIST RENT PER SQFT
  • $2,703

    COMP ESTIMATED VALUE
  • $2.91

    COMP AVG. RENT PER SQFT
Comps Range
$3,060
1$3,0602$3,4003$3,5004$3,800
$3,800
RENT COMPS ANALYSIS
  • 1903 Potrero Dr San Jose, CA 1
    • 3 beds 1 baths ∙ 930 Sqft ∙ Built 1952 3 beds 1 baths ∙ 930 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $3.29
    •  
  • 2302 New Jersey Ave San Jose, CA 2
    • 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
    •  
  • 5036 Noella Way San Jose, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Tiger Teerlink
Compass
BESbswy