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2281 Central Park Dr Campbell, CA 95008

4 Beds 2 Baths 1,687 sqft Built 1961

INVESTimate

$1,399,000

List Price

$4,010

$3,760 - $4,260

Rent Est.

$1,580,171  ( +12.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $829.28
  • 7 Days on Market
  • MLS # : ML81807103
  • Updated Date : 08/25/2020 at 10:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,687 sqft
  • Baths : 2 full
Listing Agent

Forrest Properties

Listing Agent's Description

Don't miss out on this move-in ready 4+2 updated home on one of the best streets in Campbell! New interior paint, new carpet, new window screens, updated baths, hardwood floors, dual-paned windows and remodeled kitchen are only some of the features that will wow you! Master suite is found on the ground floor and the three secondary bedrooms are on the second level. The backyard oasis is perfect for year-round entertaining with the huge low-maintenance composite deck, that accommodates a ping pong table, fire pit, lounge area and even a hot tub. All of this plus award-winning Cambrian schools! The incredible location allows for easy access to the oh-so-desirable Downtown Campbell eateries, bars and shops as well as the Pruneyard, Los Gatos Creek Trail, dog park, Trader Joes, Lunardis, Whole Foods and Farmers' Market. Proximity to freeways (17/880, 85, 280 and San Tomas Expy) helps tp ease the commute. Nearby employers include Apple, Netflix as well as the proposed Google Campus.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Central Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $373k1456k

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

Neighborhood: Central Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21800200022002400260028003000320034003600380040004200Rent in $17624247

* 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
Bagby Elementary School Primary Regular 665 27 6
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Bagby Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 27
6
GreatSchools Rating

Price Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 43
7
GreatSchools Rating

Branham High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 62
9
GreatSchools Rating
 

$1,259,100$1,538,900$1,399,000

PURCHASE PRICE

$3,609$4,411$4,010

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,010
EXPENSES Loan Payment -$5,162
Property Tax -$1,574
Property Insurance -$68
Property Management Fees -$156
CASH FLOW
-$2,950

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.

$1,399,000

PROJECTED PRICE

$4,010

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.95%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,485

INVESTMENT

$376,485

Down Payment
$349,750
Rehab Estimate
$5,750
Closing Costs
$20,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,750
Loan Amount $1,049,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$60

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,010

    LIST RENT
  • $2.38

    LIST RENT PER SQFT
  • $4,223

    COMP ESTIMATED VALUE
  • $2.5

    COMP AVG. RENT PER SQFT
Comps Range
$3,795
1$3,7952$3,8003$4,0104$4,500
$4,500
RENT COMPS ANALYSIS
  • 2281 Central Park Dr Campbell, 3
    • 4 beds 2 baths ∙ 1,687 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,687 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $4,010
    • $2.38
    •  
  • 1810 Brighten Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.56
    •  
  • 2154 Casa Mia Dr San Jose, 2
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.66
    •  
  • Chapman Dr Campbell, 4
    • 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,961 Sqft ∙ Built 1959
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.29
    •  
PROPERTY LISTING DETAILS
Susie Forrest
Forrest Properties
BESbswy