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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Majestic
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$338,325
LOAN DETAILS
$4,630
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $313,750 |
| Loan Amount | $941,250 |
-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
-
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
Intero Real Estate Services
