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PROPERTY INFO
FACTS
- Single Family
- Built In 1958
- Price/Sqft : $1,020.41
- 3 Days on Market
- MLS # : ML81820964
- Updated Date : 11/20/2020 at 15:12
CONSTRUCTION
- Beds : 3
- Floor Size : 1,225 sqft
- Baths : 2 full
Listing Agent
Intero Real Estate Services
Listing Agent's Description
The home you have been waiting for! Located in the most desirable neighborhood of Cambrian, this 3 bed 2 bath home has been meticulously maintained and upgraded. Kitchen was fully remodeled in 2018 and no expense was spared - granite countertops, slow close cabinets, high-end Viking range, GE Cafe fridge with integrated Keurig, breakfast bar, and so much more. Enjoy your spacious primary bathroom that was remodeled in 2014 with all Pottery Barn finishing. Gorgeous and modern hall bath was remodeled in 2016 - Newport Brass faucets, Restoration Hardware cabinetry, carrera marble flooring, subway tile shower surround, and a soak-in rectangular tub. Double pane windows throughout, Central Heat & A/C, a 50 year composition presidential roof (2015), recessed lighting, a well appointed laundry room; this home is move in ready! Your backyard has a gorgeous pool, a large patio made of decomposed granite with gas hook ups for BBQ/fire pit, and plenty of space for entertaining! Don't Miss Out!
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MARKET HIGHLIGHTS
- 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)
- San Jose metro has 67.6% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Los Gatos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Los Gatos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,450 |
| EXPENSES | Loan Payment | -$4,612 |
| Property Tax | -$1,466 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$2,819
|
||
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.
$1,250,000
PROJECTED PRICE
$3,450
PROJECTED RENT
0.28%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$337,000
LOAN DETAILS
$4,612
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $312,500 |
| Loan Amount | $937,500 |
-0.17
YEARS SAVED
-$105
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,450
LIST RENT -
$2.82
LIST RENT PER SQFT
-
$3,459
COMP ESTIMATED VALUE -
$2.82
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 04/29/20- Rent
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- $3,500
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LEASED 10/29/19- Rent
- Rent Per SQFT
- $3,850
- $2.67
-
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- 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965
LEASED 06/18/20- Rent
- Rent Per SQFT
- $4,200
- $2.88
PROPERTY LISTING DETAILS
Intero Real Estate Services
