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2019 Majestic Way San Jose, CA 95132

3 Beds 3 Baths 1,412 sqft Built 1971

$1,255,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $888.81
  • 5 Days on Market
  • MLS # : ML81821509
  • Updated Date : 11/26/2020 at 09:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Situated at the peaceful San Jose foothill, this Berryassa gem brings you to a tropical flavored home on a large, well landscaped lot. Dramatic palm trees in front and back yard create a feeling of oasis. The house is fully remodeled with a highly functional floor plan: an open kitchen-dining-family combo and a separate living room. Its brand new kitchen is modern, sleek, and equipped with new high-end appliances. Bedrooms are spacious with newly remodeled bathrooms. The two-car garage was tastefully converted into a two bedroom one bathroom suite; great for home office, in-law, gym, or even rental. Backyard boasts a large sparkling pool, a pool house/craft room, a wooden deck, numbers of fruit trees, lots of storage space, and even a play house. The house is solar powered. Walking distance to parks and elementary school. Close to Great Mall, Bart station and freeways, and offers top rated Piedmont Hills schools! Best location! Your looking for a dream home ends here!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Majestic

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1246k

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

Neighborhood: Majestic

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17473804

* 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
Majestic Way Elementary School Primary Regular 553 23 8
Sierramont Middle School Middle Regular 1,104 41 7
Piedmont Hills High School High Magnet 2,215 89 9

Majestic Way Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 23
8
GreatSchools Rating

Sierramont Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 41
7
GreatSchools Rating

Piedmont Hills High School

  • Education Level: High
  • # of students: 2,215
  • # of teachers: 89
9
GreatSchools Rating
 

$1,129,500$1,380,500$1,255,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$4,630
Property Tax -$1,466
Property Insurance -$61
Property Management Fees -$133
CASH FLOW
-$2,871

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.

$1,255,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$338,325

INVESTMENT

$338,325

Down Payment
$313,750
Rehab Estimate
$5,750
Closing Costs
$18,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,630

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $313,750
Loan Amount $941,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $2.42

    LIST RENT PER SQFT
  • $3,492

    COMP ESTIMATED VALUE
  • $2.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,4203$3,5004$3,800
$3,800
RENT COMPS ANALYSIS
  • 2019 Majestic Way San Jose, CA 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $2.42
    •  
  • 3468 Whitman Way San Jose, CA 1
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.96
    •  
  • 1468 Canton Dr Milpitas, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
  • 2318 Oak Flat Rd San Jose, CA 4
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1974
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.54
    •  
PROPERTY LISTING DETAILS
Marian Chaney
Intero Real Estate Services
BESbswy