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200 Hayes Ave San Jose, CA 95123

3 Beds 1 Baths 1,286 sqft Built 1957

$1,490,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $1,158.63
  • 6 Days on Market
  • MLS # : ML81825470
  • Updated Date : 01/12/2021 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 1 full
Listing Agent

Morgan Real Estate

Listing Agent's Description

Value is in the land! A great investment opportunity for developers and investors! A corner lot had been approved to be divided into 3 separate lots for single-family houses or you find other opportunities! Each lot can build around 3000 sqft 2-story dream houses with attached ADU combined. A great location in a quite Blossom Hill neighborhood, next to Oaks Grove High School, close to major shopping centers, restaurants and hospitals. Easy access to 101 and 85 transportation. The existing 4 bedroom house is rented at month-to-month lease, reducing your costing in development. With WFH trend, these can be dream homes for with great return.

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: Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $204k1220k

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

Neighborhood: Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17503804

* 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
Herman Intermediate School And Adventure Primary Regular 822 38 8
Herman Intermediate School And Adventure Middle Regular 822 38 8
Oak Grove High School High Magnet 1,903 78 6

Herman Intermediate School And Adventure

  • Education Level: Primary
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Herman Intermediate School And Adventure

  • Education Level: Middle
  • # of students: 822
  • # of teachers: 38
8
GreatSchools Rating

Oak Grove High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 78
6
GreatSchools Rating
 

$1,341,000$1,639,000$1,490,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$5,175
Property Tax -$1,799
Property Insurance -$58
Property Management Fees -$129
CASH FLOW
-$4,001

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.

$1,490,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.21%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.6%
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$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$400,600

INVESTMENT

$400,600

Down Payment
$372,500
Rehab Estimate
$5,750
Closing Costs
$22,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,175

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $372,500
Loan Amount $1,117,500
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$4,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.46

    LIST RENT PER SQFT
  • $3,202

    COMP ESTIMATED VALUE
  • $2.49

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,1603$3,3504$3,6005$3,690
$3,690
RENT COMPS ANALYSIS
  • 200 Hayes Ave San Jose, CA 2
    • 3 beds 1 baths ∙ 1,286 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,286 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.46
    •  
  • 5395 Great Oaks Dr San Jose, CA 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1940
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.52
    •  
  • 5328 Cedar Grove Cir San Jose, CA 3
    • 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1977
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.46
    •  
  • 6103 Vale Ct San Jose, CA 4
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1968
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.55
    •  
  • 185 Tulip Blossom Ct San Jose, CA 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1976
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,690
    • $2.43
    •  
PROPERTY LISTING DETAILS
Sharon Xu
Morgan Real Estate
BESbswy