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2099 Barrett Ave San Jose, CA 95124

4 Beds 3 Baths 1,853 sqft Built 1961

$1,675,000

List Price

$4,200

$4K - $4.5K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $903.94
  • 6 Days on Market
  • MLS # : ML81823839
  • Updated Date : 12/23/2020 at 09:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,853 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

This extensively remodeled home is for those looking to move in with nothing left to do. The 1,853 sf single-level layout is centered around a generous great room with a modern granite-encased wood-burning fireplace & large windows that frame views over the yard. New flooring & paint are on show throughout the open-concept floorplan, including in the brand new open kitchen with a suite of stainless steel appliances, quartz countertops, & soft-close shaker-style cabinets. There are four generous bedrooms, including two with updated ensuite baths while the main bedroom is complete with a large closet. Enjoy the solar system, recessed lighting, ample storage, & a two-car garage. The 6,102 ft lot showcases new landscaping with lush sod & automatic sprinkler system. Those who love to entertain will adore the side patio. Close to shopping, dining, Peets Coffee, & highways. A host of renowned schools are nearby, including Carlton Elementary, Union Middle, and Leigh High.

SEE MORE

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: Parker

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Parker

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18954493

* 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
Carlton Elementary School Primary Regular 705 28 9
Union Middle School Middle Regular 976 40 9
Leigh High School High Magnet 1,665 73 9

Carlton Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 28
9
GreatSchools Rating

Union Middle School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 40
9
GreatSchools Rating

Leigh High School

  • Education Level: High
  • # of students: 1,665
  • # of teachers: 73
9
GreatSchools Rating
 

$1,507,500$1,842,500$1,675,000

PURCHASE PRICE

$3,780$4,620$4,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,200
EXPENSES Loan Payment -$6,180
Property Tax -$1,965
Property Insurance -$72
Property Management Fees -$164
CASH FLOW
-$4,180

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.

$1,675,000

PROJECTED PRICE

$4,200

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$449,625

INVESTMENT

$449,625

Down Payment
$418,750
Rehab Estimate
$5,750
Closing Costs
$25,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $418,750
Loan Amount $1,256,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$260

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,200

    LIST RENT
  • $2.27

    LIST RENT PER SQFT
  • $4,243

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,7004$4,2005$4,595
$4,595
RENT COMPS ANALYSIS
  • 2099 Barrett Ave San Jose, CA 4
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.27
    •  
  • 2934 Newark Way San Jose, CA 1
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.97
    •  
  • 2577 New Jersey Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1957
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.33
    •  
  • 124 Charter Oaks Cir Los Gatos, CA 3
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1973
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.19
    •  
  • 5502 Taft Dr San Jose, CA 5
    • 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 1960
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $2.67
    •  
PROPERTY LISTING DETAILS
Bonafede Team
Compass
BESbswy