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2177 Sunny Vista Dr San Jose, CA 95128

3 Beds 1 Baths 1,014 sqft Built 1948

$1,148,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1948
  • Price/Sqft : $1,132.15
  • 5 Days on Market
  • MLS # : ML81816963
  • Updated Date : 11/04/2020 at 13:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,014 sqft
  • Baths : 1 full
Listing Agent

Sereno Group

Listing Agent's Description

NESTLED IN THE COVETED "CORY" NEIGHBORHOOD ON THE SANTA CLARA BORDER, THIS IMPRESSIVE 3 BEDROOM 1 BATHROOM HOME AWAITS YOU! PRIDE OF OWNERSHIP EVIDENT THROUGHOUT, FLOODED WITH NATURAL LIGHT AND FEATURING A TURN KEY INTERIOR CONDITION. KITCHEN FULLY REMODELED IN 2017 WITH QUARTZ COUNTERTOPS, STAINLESS STEEL APPLIANCES, AND ENGINEERED HARDWOOD FLOORS. BOASTING CUSTOM WASHER/DRYER COMBO, CENTRAL HEAT & AC FOR WARMER DAYS, & FRESHLY PAINTED INTERIORS. GREAT CENTRAL LOCATION NEAR SANTANA ROW, HWY 880 & 280, NEARBY RESTAURANTS & SHOPS. COME TOUR YOUR SHELTER IN PARADISE BEFORE IT IS GONE!

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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: Cory

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $363k1220k

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

Neighborhood: Cory

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800Rent in $15853804

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$1,033,200$1,262,800$1,148,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$4,236
Property Tax -$1,282
Property Insurance -$52
Property Management Fees -$129
CASH FLOW
-$2,379

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.

$1,148,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
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

PROJECTED ANNUAL CASH FLOW

11530-$40k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$309,970

INVESTMENT

$309,970

Down Payment
$287,000
Rehab Estimate
$5,750
Closing Costs
$17,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,000
Loan Amount $861,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$34

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $3.27

    LIST RENT PER SQFT
  • $3,437

    COMP ESTIMATED VALUE
  • $3.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3203$3,6954$3,800
$3,800
RENT COMPS ANALYSIS
  • 2177 Sunny Vista Dr San Jose, CA 2
    • 3 beds 1 baths ∙ 1,014 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,014 Sqft ∙ Built 1948
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $3.27
    •  
  • 360 Los Padres Blvd Santa Clara, CA 1
    • 3 beds 1 baths ∙ 1,035 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,035 Sqft ∙ Built 1953
    property image
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $3.14
    •  
  • 2323 Peachtree Ln San Jose, CA 3
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1950
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $3.55
    •  
  • 2155 Sunny Vista Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1948
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.48
    •  
PROPERTY LISTING DETAILS
David Long
Sereno Group
BESbswy