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2345 Shelley Ave San Jose, CA 95124

4 Beds 3 Baths 2,022 sqft Built 1979

INVESTimate

$1,380,000

List Price

$4,280

$4,030 - $4,530

Rent Est.

$1,558,848  ( +12.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $682.49
  • 6 Days on Market
  • MLS # : ML81807131
  • Updated Date : 08/25/2020 at 16:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,022 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pams Homes

Listing Agent's Description

Stunning, well kept, upgraded home is ready for you! Fabulous Kitchen boast custom hardwood floors & cabinets, glass counter stove top and bosch dishwasher, granite countertops with full tile backsplash. Master bedroom features french door walk-in closet, sliding door to private deck,ensuite bathroom features travertine floors and shower. Living room with wood burning fireplace and crown molding. Dining Room features french doors that open to the enclosed back yard with private deck, pavers on side yard with door to garage. Custom marble floors in entry, laundry room and bathrooms. Garage includes custom built in cabinetry. Custom stamped cement pathway and stained driveway. Vinyl dual pane double hung windows throughout home. Central A/C & Heater on NEST. Laundry Room with built in storage cabinets. Transferable alarm system service. Home is filled with more custom touches throughout, a MUST SEE!

SEE MORE

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: 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
 

$1,242,000$1,518,000$1,380,000

PURCHASE PRICE

$3,852$4,708$4,280

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-$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 $4,280
EXPENSES Loan Payment -$5,092
Property Tax -$1,583
Property Insurance -$76
Property Management Fees -$167
CASH FLOW
-$2,638

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.

$1,380,000

PROJECTED PRICE

$4,280

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.96%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$371,450

INVESTMENT

$371,450

Down Payment
$345,000
Rehab Estimate
$5,750
Closing Costs
$20,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,092

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $345,000
Loan Amount $1,035,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

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
  • $4,630

    COMP ESTIMATED VALUE
  • $2.29

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,500
$4,500
RENT COMPS ANALYSIS
  • 2345 Shelley Ave San Jose, 1
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • Chapman Dr Campbell, 2
    • 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
Pam Sauceda
Pams Homes
BESbswy