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2188 Coastland Ave San Jose, CA 95125

2 Beds 1 Baths 1,190 sqft Built 1932

$1,500,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1932
  • Price/Sqft : $1,260.50
  • 5 Days on Market
  • MLS # : ML81820805
  • Updated Date : 11/18/2020 at 21:08
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,190 sqft
  • Baths : 1 full
Listing Agent

Realty World-ac Properties

Listing Agent's Description

Hard to find 17,000+ sq. ft. lot located in Willow Glen. Unlimited potential! The property consist of a 2 bedroom 1 bathroom main house with a basement, two rear non-conforming units, a large storage building and a 2 car garage. Must see to appreciate! Schedule your tour today! This property will not last!

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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: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Booksin Elementary School Primary Regular 851 31 8
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Booksin Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 31
8
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,350,000$1,650,000$1,500,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$5,534
Property Tax -$1,675
Property Insurance -$56
Property Management Fees -$129
CASH FLOW
-$4,104

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.

$1,500,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.22%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,534

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $375,000
Loan Amount $1,125,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $3,622

    COMP ESTIMATED VALUE
  • $3.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,6004$4,595
$4,595
RENT COMPS ANALYSIS
  • 2188 Coastland Ave San Jose, CA 1
    • 2 beds 1 baths ∙ 1,190 Sqft ∙ Built 1932 2 beds 1 baths ∙ 1,190 Sqft ∙ Built 1932
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1813 Bird Ave San Jose, CA 2
    • 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1950 2 beds 2 baths ∙ 1,167 Sqft ∙ Built 1950
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.57
    •  
  • 1078 Bennett Way San Jose, CA 3
    • 2 beds 2 baths ∙ 1,098 Sqft ∙ Built 1938 2 beds 2 baths ∙ 1,098 Sqft ∙ Built 1938
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $3.28
    •  
  • 1128 Settle Ave San Jose, CA 4
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1939
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $3.28
    •  
PROPERTY LISTING DETAILS
Louis Ponce
Realty World-ac Properties
BESbswy