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2068 Harmil Way San Jose, CA 95125

3 Beds 2 Baths 1,709 sqft Built 1952

$1,498,888

List Price

$4,160

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $877.06
  • 5 Days on Market
  • MLS # : ML81825554
  • Updated Date : 01/13/2021 at 13:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,709 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Welcome to 2068 Harmil Way, situated on a highly desired street in Willow Glen, within the Booksin Elementary School boundary, and approx. only 1 mile from Downtown WG Shopping and Restaurants on Lincoln Avenue! Beautifully updated home with high-end finishes throughout. Remodeled kitchen featuring newer quartz countertops, custom cabinetry, and stainless steel appliances. Spacious living room highlighted by gleaming hardwood floors, fireplace with stone surround, and tons of natural light. Large Owners suite w/ bay window, en-suite bathroom w/ oversized shower + tub and walk-in closet. Two additional bedrooms perfect for children, a home office, or guests. Updated hall bathroom w/ double sinks. Dual Zone A/C and Heating. Inside Laundry. Recessed Lighting. Huge backyard w/ expansive deck perfect for entertaining or future expansion of the home. Amazing location within one of the most desired communities in all of San Jose. Do not miss the opportunity to make this house your home!

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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
 

$1,348,999$1,648,777$1,498,888

PURCHASE PRICE

$3,744$4,576$4,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,160
EXPENSES Loan Payment -$5,206
Property Tax -$1,674
Property Insurance -$68
Property Management Fees -$162
CASH FLOW
-$2,950

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.

$1,498,888

PROJECTED PRICE

$4,160

PROJECTED RENT

0.28%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,955

INVESTMENT

$402,955

Down Payment
$374,722
Rehab Estimate
$5,750
Closing Costs
$22,483

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $374,722
Loan Amount $1,124,166
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$53

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,160

    LIST RENT
  • $2.43

    LIST RENT PER SQFT
  • $3,615

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,5003$3,6504$4,1605$4,500
$4,500
RENT COMPS ANALYSIS
  • 2068 Harmil Way San Jose, CA 4
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $4,160
    • $2.43
    •  
  • 2102 Ellen Ave San Jose, CA 1
    • 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
    •  
  • 1462 Jenvey Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.37
    •  
  • 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
    •  
  • 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
Jordan Mott
Intero Real Estate Services
BESbswy