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2051 Harmil Way San Jose, CA 95125

4 Beds 2 Baths 2,010 sqft Built 1951

$1,898,000

List Price

$3,810

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $944.28
  • 4 Days on Market
  • MLS # : ML81819966
  • Updated Date : 11/13/2020 at 18:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,010 sqft
  • Baths : 2 full
Listing Agent

Dpl Real Estate

Listing Agent's Description

Move in and enjoy this gorgeous 4 bedroom newly remodeled & expanded single-story home in Willow Glen. Brand new designer finishes. Elegant formal entry. Gleaming maple floors. Stunning large brand new open chef's kitchen with quartz countertops, huge breakfast bar island & top-of-the-line appliances including 5 burner professional range with custom hood. Soaring ceilings in the open living & dining spaces. Many Smart house features. Elegant modern design for living, dining & entertaining. All 4 bedrooms are spacious with great light. Beautiful brand new bathrooms. Dream-like large Master suite with vaulted ceiling, huge walk-in closet, brand new bathroom with barn door, oversized Moen smart shower, deep soaking tub & dual vanities. Desirable single-story floor plan. Double-pane windows & central A/C. Upgraded electrical, plumbing & roof. Large private backyard with lawn & patio. Cherish a walkable lifestyle near parks & Downtown Willow Glen. Schools include Booksin Elementary. Wow.

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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Booksin Elementary School Primary Regular 851 31 8
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Booksin Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 31
8
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,708,200$2,087,800$1,898,000

PURCHASE PRICE

$3,429$4,191$3,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,810
EXPENSES Loan Payment -$7,003
Property Tax -$2,119
Property Insurance -$76
Property Management Fees -$149
CASH FLOW
-$5,536

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.

$1,898,000

PROJECTED PRICE

$3,810

PROJECTED RENT

0.20%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.0%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$80k-$70k-$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$7.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$508,720

INVESTMENT

$508,720

Down Payment
$474,500
Rehab Estimate
$5,750
Closing Costs
$28,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $474,500
Loan Amount $1,423,500
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$7,054

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
  • $4,065

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,9003$3,6504$4,3955$4,500
$4,500
RENT COMPS ANALYSIS
  • 2051 Harmil Way San Jose, CA 1
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1951 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2102 Ellen Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1951
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.73
    •  
  • 2956 Aulin Dr San Jose, CA 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1958
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.03
    •  
  • 2532 Gerald Way San Jose, CA 4
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1950 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1950
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,395
    • $2.00
    •  
  • 1477 Husted Ave San Jose, CA 5
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
PROPERTY LISTING DETAILS
David Lillo
Dpl Real Estate
BESbswy