Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2356 Heritage Dr San Jose, CA 95124

4 Beds 3 Baths 2,300 sqft Built 1966

$1,649,999

List Price

$4,800

$4.6K - $5.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $717.39
  • 5 Days on Market
  • MLS # : ML81820801
  • Updated Date : 11/19/2020 at 09:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 2 full , 1 half
Listing Agent

Santana Realty

Listing Agent's Description

Large 2300 square foot 4 bedroom 3 bathroom home in a well-maintained neighborhood. The home is ready for you to make it yours. Perfect for the growing family or the savvy investor. The home needs some updating. You can choose your finishes and gain equity.

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17044573

* 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
Booksin Elementary School Primary Regular 851 31 8
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Booksin Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 31
8
GreatSchools Rating

Willow Glen Middle School

  • Education Level: Middle
  • # of students: 1,259
  • # of teachers: 57
6
GreatSchools Rating

Willow Glen High School

  • Education Level: High
  • # of students: 1,660
  • # of teachers: 75
7
GreatSchools Rating
 

$1,484,999$1,814,999$1,649,999

PURCHASE PRICE

$4,320$5,280$4,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,800
EXPENSES Loan Payment -$6,088
Property Tax -$1,842
Property Insurance -$85
Property Management Fees -$187
CASH FLOW
-$3,402

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.

$1,649,999

PROJECTED PRICE

$4,800

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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$443,000

INVESTMENT

$443,000

Down Payment
$412,500
Rehab Estimate
$5,750
Closing Costs
$24,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $412,500
Loan Amount $1,237,499
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$52

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
  • $5,064

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,5953$5,495
$5,495
RENT COMPS ANALYSIS
  • 2356 Heritage Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2311 Markham Ave San Jose, CA 2
    • 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1957 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1957
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,595
    • $1.92
    •  
  • 2247 Constitution Dr San Jose, CA 3
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $2.30
    •  
PROPERTY LISTING DETAILS
Michelle Eldridge
Santana Realty
BESbswy