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233 Olive Hill Dr San Jose, CA 95125

3 Beds 3 Baths 2,193 sqft Built 2004

$1,049,000

List Price

$3,960

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $478.34
  • 5 Days on Market
  • MLS # : ML81821479
  • Updated Date : 11/25/2020 at 18:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,193 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Stunning remodeled home w gorgeous upgrades n open floorplan in the desirable Willow Glen side of Communications hill. Step in to be impressed w Cherry hardwood floors, French doors, high ceiling, patio, gas fireplace, designer lighting and paint. large gourmet kitchen w professional grade stainless steel appliances, granite countertops and large bar, set right into private backyard n side yard w fruit trees n succulents. upgraded powder room and large master w large walk-in closet n double sinks. One of the most desirable floorplan w all bedrooms on same level. upper inside laundry. Go through the garage to discover over 600 sq ft bonus area w movie theater room/poker room that can be your own gym or wine tasting area. Walk to the park across or take a stroll to "The Plant" for a bite to eat. Easy commute and access via 85 or 87 freeway! A must see!

SEE MORE

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: South San Jose

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: South San Jose

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Shirakawa Elementary School Primary Regular 871 34 6
Shirakawa Elementary School Middle Regular 871 34 6
Yerba Buena High School High Magnet 1,782 74 6

Shirakawa Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 34
6
GreatSchools Rating

Shirakawa Elementary School

  • Education Level: Middle
  • # of students: 871
  • # of teachers: 34
6
GreatSchools Rating

Yerba Buena High School

  • Education Level: High
  • # of students: 1,782
  • # of teachers: 74
6
GreatSchools Rating
 

$944,100$1,153,900$1,049,000

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 -$3,870
Property Tax -$1,254
Property Insurance -$80
HOA -$99
Property Management Fees -$154
CASH FLOW
-$1,498

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$1,049,000

PROJECTED PRICE

$3,960

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,735

INVESTMENT

$283,735

Down Payment
$262,250
Rehab Estimate
$5,750
Closing Costs
$15,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,250
Loan Amount $786,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,960

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $4,485

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,9003$3,9604$4,2005$4,295
$4,295
RENT COMPS ANALYSIS
  • 233 Olive Hill Dr San Jose, CA 3
    • 3 beds 3 baths ∙ 2,193 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,193 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,960
    • $1.81
    •  
  • 206 Montalcino Cir San Jose, CA 1
    • 3 beds 4 baths ∙ 1,856 Sqft ∙ Built 2015 3 beds 4 baths ∙ 1,856 Sqft ∙ Built 2015
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.88
    •  
  • 3447 Quarry Park Dr San Jose, CA 2
    • 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 1996
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.10
    •  
  • 212 Montalcino Cir San Jose, CA 4
    • 4 beds 4 baths ∙ 2,050 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,050 Sqft ∙ Built 1990
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $2.05
    •  
  • 3052 San Jose Vineyard Ct 3 San Jose, CA 5
    • 4 beds 4 baths ∙ 1,995 Sqft ∙ Built 2017 4 beds 4 baths ∙ 1,995 Sqft ∙ Built 2017
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,295
    • $2.15
    •  
PROPERTY LISTING DETAILS
Farah Bani-taba
Compass
BESbswy