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2062 Croner Pl San Jose, CA 95131

4 Beds 3 Baths 1,972 sqft Built 2004

INVESTimate

$1,299,998

List Price

$4,230

$3,980 - $4,480

Rent Est.

$1,444,038  ( +11.08%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $659.23
  • 7 Days on Market
  • MLS # : ML81804258
  • Updated Date : 08/24/2020 at 11:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,972 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mm

Listing Agent's Description

SPECTACULAR Home in prime location North Valley, rarely an opportunity to own this very desirable Pulte Home; Beautiful two story home located in middle of Croner Pl; High vaulted ceilings with large windows and sliding doors for ample natural light;This spacious open floor home offers separated living room, family room, dining area and open kitchen, lots of cabinetry, central island and stainless appliances; Spacious master suite: high ceiling fan, separate shower and bathtub, large walk-in closet; indoor laundry room; Central A/C, included Washer/Dryer, all wall-mounted TV, Google Nest Thermostat & smoke alarm system, garage work bench; walk to Flickinger Park; Conveniently locate near Costco, Ranch 99, HMart, Sprouts plaza, post office, banks, Berryessa Bart station, major hightech companies, Easy access to 680, 880, and 101

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: Flickinger North

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $366k1665k

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

Neighborhood: Flickinger North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17004493

* 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
Brooktree Elementary School Primary Regular 515 24 6
Morrill Middle School Middle Regular 729 33 7
Independence High School High Magnet 3,118 121 7

Brooktree Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 24
6
GreatSchools Rating

Morrill Middle School

  • Education Level: Middle
  • # of students: 729
  • # of teachers: 33
7
GreatSchools Rating

Independence High School

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

$1,169,998$1,429,998$1,299,998

PURCHASE PRICE

$3,807$4,653$4,230

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

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,230
EXPENSES Loan Payment -$4,796
Property Tax -$1,519
Property Insurance -$75
HOA -$101
Property Management Fees -$165
CASH FLOW
-$2,426

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.

$1,299,998

PROJECTED PRICE

$4,230

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.08%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,249

INVESTMENT

$350,249

Down Payment
$325,000
Rehab Estimate
$5,750
Closing Costs
$19,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,796

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $325,000
Loan Amount $974,999
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,230

    LIST RENT
  • $2.15

    LIST RENT PER SQFT
  • $4,718

    COMP ESTIMATED VALUE
  • $2.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$3,8603$4,2304$4,4955$5,000
$5,000
RENT COMPS ANALYSIS
  • 2062 Croner Pl San Jose, 3
    • 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $4,230
    • $2.15
    •  
  • 1676 Lederer Cir San Jose, 1
    • 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 1986
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.26
    •  
  • 1673 River Birch Ct San Jose, 2
    • 4 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985
    LEASED 05/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,860
    • $2.34
    •  
  • 262 Wild Rose Way Milpitas, 4
    • 4 beds 4 baths ∙ 2,018 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,018 Sqft ∙ Built 2018
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $2.23
    •  
  • 1589 Mission Springs Ct San Jose, 5
    • 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1989
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.74
    •  
PROPERTY LISTING DETAILS
David Lau
Century 21 Mm
BESbswy