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2353 Glenview Dr Milpitas, CA 95035

4 Beds 3 Baths 2,549 sqft Built 1991

$1,680,000

List Price

$4,280

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $659.08
  • 4 Days on Market
  • MLS # : ML81820936
  • Updated Date : 11/21/2020 at 01:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,549 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mm

Listing Agent's Description

Highly sought after Hillcrest Executive Home with panoramic views of foothills in the most secluded location of Milpitas!! This beautiful two-story home features an open floor plan, light & bright, vaulted ceilings, 4 bedrooms, 3 baths, 3-car garage & an extra large lot of over 8,700 s.f.! Custom spiral hardwood staircase opens up to soaring high ceilings. One bedroom & one bath conveniently located downstairs. Formal living, dining & family rooms with two cozy fireplaces. Hardwood floors throughout. Gourmet kitchen with granite counter-top, oak cabinets & large garden window. Enjoy your morning coffee at the breakfast nook overlooking professionally maintained backyard. Spacious master bedroom suite with gorgeous views. Relax in the over-sized soaking tub with separate shower. Central A/C, central vacuum, security alarm, 2-zone heating/cooling, intercom & inside laundry room. NO HOA. Top Milpitas schools! Walking distance to park. Close to new BART station, major shopping & freeways.

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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

Neighborhood: Southeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Southeastern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16973804

* 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
John Sinnott Elementary School Primary Regular 780 29 9
John Sinnott Elementary School Middle Regular 780 29 9
Milpitas High School High Regular 3,105 117 9

John Sinnott Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 29
9
GreatSchools Rating

John Sinnott Elementary School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 29
9
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,512,000$1,848,000$1,680,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,280
EXPENSES Loan Payment -$6,198
Property Tax -$1,671
Property Insurance -$89
Property Management Fees -$167
CASH FLOW
-$3,845

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.

$1,680,000

PROJECTED PRICE

$4,280

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.9%
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$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$60k-$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$6.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$450,950

INVESTMENT

$450,950

Down Payment
$420,000
Rehab Estimate
$5,750
Closing Costs
$25,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,198

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $420,000
Loan Amount $1,260,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,280

    LIST RENT
  • $1.68

    LIST RENT PER SQFT
  • $4,384

    COMP ESTIMATED VALUE
  • $1.72

    COMP AVG. RENT PER SQFT
Comps Range
$4,050
1$4,0502$4,280
$4,280
RENT COMPS ANALYSIS
  • 2353 Glenview Dr Milpitas, CA 2
    • 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $4,280
    • $1.68
    •  
  • 2742 Mignon Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.72
    •  
PROPERTY LISTING DETAILS
Vendy Chan
Century 21 Mm
BESbswy