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1953 Wave Pl San Jose, CA 95133

5 Beds 3 Baths 2,533 sqft Built 1979

INVESTimate

$1,388,888

List Price

$4,620

$4,370 - $4,870

Rent Est.

$1,579,443  ( +13.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $548.32
  • 2 Days on Market
  • MLS # : ML81807346
  • Updated Date : 08/25/2020 at 15:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,533 sqft
  • Baths : 3 full
Listing Agent

R. Dean Merkley,broker

Listing Agent's Description

Must see this stunning home in a great location - close to freeway access and Berryessa BART, yet on a tree-lined cul-de-sac. Beautifully landscaped and welcoming - ready for entertainment in a pergola-covered patio w/pass-through counter from kitchen. Step through the family rm sliding glass door to enjoy the fruit trees and conversation areas in backyard. 5 bdrms/3 full baths with 4 spacious bdrms and 2 baths upstairs, one large bdrm and full bath on the ground floor. Separate laundry/utility room. Upgrades include custom-tiled entry, recessed lighting throughout, granite counters, double ovens in kitchen w/beautiful wood cabinets and under-cabinet lighting, t&g hardwood flooring. Plenty of storage - walk-in closets, attic area w/lighting. Large 3-car garage w/work area. Two Lenox A/C units w/energy-saving thermostats. High quality double pane windows. Remodeled bathrooms w/travertine. Tile roof. Many more upgrades - don't miss this opportunity near silicon valley tech centers!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Commodore

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Commodore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2180020002200240026002800300032003400360038004000Rent in $17854147

* 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
Vinci Park Elementary School Primary Regular 627 27 8
Piedmont Middle School Middle Regular 875 33 6
Independence High School High Magnet 3,118 121 7

Vinci Park Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 27
8
GreatSchools Rating

Piedmont Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 33
6
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 3,118
  • # of teachers: 121
7
GreatSchools Rating
 

$1,249,999$1,527,777$1,388,888

PURCHASE PRICE

$4,158$5,082$4,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,620
EXPENSES Loan Payment -$5,124
Property Tax -$1,623
Property Insurance -$88
Property Management Fees -$180
CASH FLOW
-$2,396

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.

$1,388,888

PROJECTED PRICE

$4,620

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.72%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$373,805

INVESTMENT

$373,805

Down Payment
$347,222
Rehab Estimate
$5,750
Closing Costs
$20,833

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,124

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $347,222
Loan Amount $1,041,666
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$90

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $4,534

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,0503$4,200
$4,200
RENT COMPS ANALYSIS
  • 1953 Wave Pl San Jose, 1
    • 5 beds 3 baths ∙ 2,533 Sqft ∙ Built 1979 5 beds 3 baths ∙ 2,533 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2742 Mignon Dr San Jose, 2
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.72
    •  
  • 1999 Cape Horn Dr San Jose, 3
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1979
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.86
    •  
PROPERTY LISTING DETAILS
R. Dean Merkley
R. Dean Merkley,broker
BESbswy