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2295 Fountain Oaks Dr Morgan Hill, CA 95037

3 Beds 2 Baths 1,489 sqft Built 1977

$799,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $536.60
  • 6 Days on Market
  • MLS # : ML81821811
  • Updated Date : 12/03/2020 at 09:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,489 sqft
  • Baths : 2 full
Listing Agent

Compass

Listing Agent's Description

Wonderful opportunity to own a single-story home in desirable Morgan Hill neighborhood. This property features; 3 nicely appointed bedrooms with private master access to back-yard, 2 updated bathrooms, generous 7,300 square foot lot with potential for boat or RV parking, new kitchen flooring and back-splash, game room / home office, new paint throughout, updated pebble tec pool, and loads of space for a beautiful garden and entertaining. Close proximity to major freeway access points, wineries, restaurants, hiking and biking trails, Jackson Academy, and all that Morgan Hill has to offer. You wont want to miss this opportunity!

SEE MORE

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

Zip Code: 95037

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Zip Code: 95037

ZipNIR 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
Jackson Academy Of Math And Music Primary Regular 594 22 6
Jackson Academy Of Math And Music Middle Regular 594 22 6
Live Oak High School High Regular 1,050 42 7

Jackson Academy Of Math And Music

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 22
6
GreatSchools Rating

Jackson Academy Of Math And Music

  • Education Level: Middle
  • # of students: 594
  • # of teachers: 22
6
GreatSchools Rating

Live Oak High School

  • Education Level: High
  • # of students: 1,050
  • # of teachers: 42
7
GreatSchools Rating
 

$719,100$878,900$799,000

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 -$2,948
Property Tax -$807
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
-$628

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.

$799,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.6%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$18,367

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
  • $3,224

    COMP ESTIMATED VALUE
  • $2.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,195
$3,195
RENT COMPS ANALYSIS
  • 2295 Fountain Oaks Dr Morgan Hill, CA 1
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 580 San Pablo Ct Morgan Hill, CA 2
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.21
    •  
  • 2220 Bayo Claros Cir Morgan Hill, CA 3
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1987
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $2.12
    •  
PROPERTY LISTING DETAILS
Mueller Zanger Group
Compass
BESbswy