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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $811.04
- 8 Days on Market
- MLS # : ML81825277
- Updated Date : 01/10/2021 at 20:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,540 sqft
- Baths : 2 full
Listing Agent
Sereno Group
Listing Agent's Description
Awesome single family home in great location. Close to freeways, Santa Row and Valley Fair! Remodel includes double pane windows, Custom Kitchen with Custom Cabinetryw self closing cabinets and drawers, Top of the line appliances, granite slab counter tops w custom backsplash. Tile floors, Hardwood floors! Presidential Roof! Coffered ceilings in dining/family rooms! Crown Moulding and new baseboards. Wood Burning fireplace. Tankless Water Heater! 6 panel doors throughout Remodeled bathrooms! New plumbing and light fixtures! New light switches w dimmers, new smart thermostat controls! New soil moisture sensor control for backyard irrigation. New Drain pipes in kitchen and new gas lines! New Soft Water System! Large covered screen room! Great location! Move right in! Property located off a side arm of Hedding so not busy!
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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: Bascom Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bascom Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,190 |
| EXPENSES | Loan Payment | -$4,338 |
| Property Tax | -$1,395 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$163 | |
|
CASH FLOW
-$1,771
|
||
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.
$1,249,000
PROJECTED PRICE
$4,190
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 5.00% |
| Appreciation Year (1-5) | 11.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.19% |
| 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
$336,735
LOAN DETAILS
$4,338
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $312,250 |
| Loan Amount | $936,750 |
0.25
YEARS SAVED
$524
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,190
LIST RENT -
$2.72
LIST RENT PER SQFT
-
$4,430
COMP ESTIMATED VALUE -
$2.88
COMP AVG. RENT PER SQFT
Comps Range
-
2147 W Hedding St San Jose, CA 4
- 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1955
![property image]()
- Rent
- Rent Per SQFT
- $4,190
- $2.72
-
1347 Lexington St Santa Clara, CA 1
- 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1940
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $3,750
- $3.00
-
962 Sunlite Dr Santa Clara, CA 2
- 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949
![property image]()
LEASED 08/01/20- Rent
- Rent Per SQFT
- $3,790
- $2.59
-
623 Pineview Dr San Jose, CA 3
- 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953
![property image]()
LEASED 12/08/20- Rent
- Rent Per SQFT
- $3,800
- $3.04
PROPERTY LISTING DETAILS
Sereno Group
