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2239 Cascade St Milpitas, CA 95035

4 Beds 3 Baths 1,987 sqft Built 1989

$1,689,000

List Price

$3,960

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $850.03
  • 9 Days on Market
  • MLS # : ML81817531
  • Updated Date : 10/29/2020 at 17:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,987 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Gold

Listing Agent's Description

Charming 4 bdrm home at Milpitas foothill has everything you are looking for. On tree lined st, this beautiful home remodeled with fresh paint and recessed lightings. Open flowing 1st floor plan includes Entry, Living rm, formal Dining rm, 1/2Bath, Laundry rm, attached Garage, both Family rm and Kitchen with Andersen Doors direct access to the Patio. Upstairs are Master Suite & 2nd Bdrm with large walk-in Closets, mirrored closet doors in 2 Bdrms, & Hall Bath. Double-pane Windows and central A/C throughout. The huge lot with side and back yard has easy to maintain landscaping featuring mature fruit trees, flowers, heritage pines, a storage unit, matching playhouse, and a children's slide. Low HOA dues include pool, hot tub, BBQ area, clubhouse, front yard maintenance, and exterior painting. Border with Park, this home is centrally located in Hillcrest Community, close to shopping, freeways, and excellent schools: John Sinnott, Rancho & Milpitas High. You'll love this home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Southeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16973804

* 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
John Sinnott Elementary School Primary Regular 780 29 9
John Sinnott Elementary School Middle Regular 780 29 9
Milpitas High School High Regular 3,105 117 9

John Sinnott Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 29
9
GreatSchools Rating

John Sinnott Elementary School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 29
9
GreatSchools Rating

Milpitas High School

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

$1,520,100$1,857,900$1,689,000

PURCHASE PRICE

$3,564$4,356$3,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,960
EXPENSES Loan Payment -$6,232
Property Tax -$1,581
Property Insurance -$75
HOA -$175
Property Management Fees -$154
CASH FLOW
-$4,257

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.

$1,689,000

PROJECTED PRICE

$3,960

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.9%
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$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$453,335

INVESTMENT

$453,335

Down Payment
$422,250
Rehab Estimate
$5,750
Closing Costs
$25,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,232

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $422,250
Loan Amount $1,266,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$263

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
  • $4,173

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,8003$3,800
$3,800
RENT COMPS ANALYSIS
  • 2239 Cascade St Milpitas, CA 1
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2916 Cohansey Dr San Jose, CA 2
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1969
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.24
    •  
  • 2242 Farmcrest St Milpitas, CA 3
    • 4 beds 3 baths ∙ 1,939 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,939 Sqft ∙ Built 1989
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.96
    •  
PROPERTY LISTING DETAILS
Frank Liu
Re/max Gold
BESbswy