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209 Park Hill Dr Milpitas, CA 95035

4 Beds 3 Baths 1,639 sqft Built 1962

INVESTimate

$1,149,000

List Price

$3,510

$3,260 - $3,760

Rent Est.

$1,295,612  ( +12.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $701.04
  • 2 Days on Market
  • MLS # : ML81806792
  • Updated Date : 08/25/2020 at 15:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,639 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Wonderful family home! Open formal dining area and two family rooms, beautiful hardwood floors throughout. Additional 323 sq. ft. sun room with lots of windows. Large 582 sq. ft. BONUS DETACHED UNIT (permitted) with finished interior, ideal for a home office and/or work space for children attending school from home. Large enclosed yard with mature trees; a beautiful setting for gatherings and BBQs. Sellers have added many upgrades and remodeled extensively: 2x bathroom remodels, sun room remodel, detached unit remodel, and garage remodel. Two bedrooms have en-suite bathrooms. Home includes energy-efficient owned solar. Location is superb, minutes away from Ed Levin County Park, walking distance to playgrounds, shops, and restaurants.

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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: Northeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Northeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17313804

* 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
William Burnett Elementary School Primary Regular 659 25 7
Rancho Milpitas Middle School Middle Regular 714 30 8
Milpitas High School High Regular 3,105 117 9

William Burnett Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 25
7
GreatSchools Rating

Rancho Milpitas Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 30
8
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,034,100$1,263,900$1,149,000

PURCHASE PRICE

$3,159$3,861$3,510

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-$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 $3,510
EXPENSES Loan Payment -$4,239
Property Tax -$1,143
Property Insurance -$67
Property Management Fees -$137
CASH FLOW
-$2,076

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.

$1,149,000

PROJECTED PRICE

$3,510

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.76%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,235

INVESTMENT

$310,235

Down Payment
$287,250
Rehab Estimate
$5,750
Closing Costs
$17,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,250
Loan Amount $861,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$65

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,510

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,639

    COMP ESTIMATED VALUE
  • $2.22

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,510
$3,510
RENT COMPS ANALYSIS
  • 209 Park Hill Dr Milpitas, 2
    • 4 beds 3 baths ∙ 1,639 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,639 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $3,510
    • $2.14
    •  
  • 1830 Vegas Ave Milpitas, 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1954
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.22
    •  
PROPERTY LISTING DETAILS
Stella Ochoa
Intero Real Estate Services
BESbswy