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2293 Sunrise Dr San Jose San Jose, CA 95124

4 Beds 2 Baths 1,370 sqft Built 1960

$1,399,888

List Price

$3,520

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $1,021.82
  • 4 Days on Market
  • MLS # : ML81818371
  • Updated Date : 11/02/2020 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,370 sqft
  • Baths : 2 full
Listing Agent

Gary G. Gillmor, Broker

Listing Agent's Description

Don't miss this HGTV style DREAM HOME! Gorgeous updated 4 bed 2 bath MODERN FARMHOUSE in beautiful Cambrian location. Nestled on quiet street house boasts brand NEW kitchen cabinets, quarts counter tops, wine refrigerator, updated appliances, new wide plank wood grain laminate flooring throughout, shiplapped fireplace in large living room has chunky mantel & custom book shelves. Custom updated bathrooms with Italian and Spanish designer tile, free standing tub spa like master with walk in closet to get your glam on! New Heat/air conditioning ducting. New water heater installed 2020. Updated copper plumbing. Updated duel pane windows, landscaped yard, two large sliders for indoor/outdoor flow, large living room, family room and kitchen combo. Space for family and entertaining. Easy high tech commute, close to Los Gatos, 85, 880, expressway, walk to shopping, Pete's coffee & Houge Park. Top Cambrian Schools ( Steindorf K-8 STEAM school) Farnham, Price Charter, Branham/Leigh High!

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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: Farnam

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Farnam

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Farnham Elementary School Primary Regular 535 21 7
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Farnham Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 21
7
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
 

$1,259,899$1,539,877$1,399,888

PURCHASE PRICE

$3,168$3,872$3,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,520
EXPENSES Loan Payment -$5,165
Property Tax -$1,606
Property Insurance -$60
Property Management Fees -$137
CASH FLOW
-$3,448

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.

$1,399,888

PROJECTED PRICE

$3,520

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$376,720

INVESTMENT

$376,720

Down Payment
$349,972
Rehab Estimate
$5,750
Closing Costs
$20,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,165

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,972
Loan Amount $1,049,916
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,520

    LIST RENT
  • $2.57

    LIST RENT PER SQFT
  • $3,689

    COMP ESTIMATED VALUE
  • $2.69

    COMP AVG. RENT PER SQFT
Comps Range
$3,520
1$3,5202$3,7953$3,8004$3,8505$4,200
$4,200
RENT COMPS ANALYSIS
  • 2293 Sunrise Dr San Jose San Jose, CA 1
    • 4 beds 2 baths ∙ 1,370 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,370 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,520
    • $2.57
    •  
  • 1810 Brighten Ave San Jose, CA 2
    • 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, CA 3
    • 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
    •  
  • 14815 Los Gatos-almaden Rd San Jose, CA 4
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1947
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.67
    •  
  • 4547 Tomrick Ave San Jose, CA 5
    • 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,457 Sqft ∙ Built 1965
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.88
    •  
PROPERTY LISTING DETAILS
Ginger Willson
Gary G. Gillmor, Broker
BESbswy