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239 Doris Ave San Jose, CA 95127

3 Beds 2 Baths 1,608 sqft Built 1936

$799,888

List Price

$3,510

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $497.44
  • 8 Days on Market
  • MLS # : ML81823693
  • Updated Date : 12/21/2020 at 21:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Valley View Properties

Listing Agent's Description

This amazing Spanish style home with an abundance of sunshine, tile roof, beamed ceiling, and lots of character has been fully updated. New kitchen cabinets, granite countertops, microwave, floor, light fixtures, sink, faucet, electrical outlets, switches, and paint. Both bathrooms have been fully updated. New paint inside and outside. The house has new laminate wood flooring, doors, paint, electrical outlet and switches, light fixtures, and much more. The landscape has been updated as well. Large basement perfect for a wine cellar or to store all your holiday decorations. A large side driveway can fit several cars, boats, RV, or whatever toys you would like to store. Close to schools, shopping, BART, Light Rail, VTA, 680, 280, and 101 freeway. This house has been VIRTUALLY STAGED. Come see this amazing home.

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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: East San Jose

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: East 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
Lyndale Elementary School Primary Regular 477 20 5
William L. Sheppard Middle School Middle Regular 718 35 3
James Lick High School High Magnet 1,108 48 5

Lyndale Elementary School

  • Education Level: Primary
  • # of students: 477
  • # of teachers: 20
5
GreatSchools Rating

William L. Sheppard Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 35
3
GreatSchools Rating

James Lick High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 48
5
GreatSchools Rating
 

$719,899$879,877$799,888

PURCHASE PRICE

$3,159$3,861$3,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$2,951
Property Tax -$964
Property Insurance -$66
Property Management Fees -$137
CASH FLOW
-$608

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.

$799,888

PROJECTED PRICE

$3,510

PROJECTED RENT

0.44%

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

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$217,720

INVESTMENT

$217,720

Down Payment
$199,972
Rehab Estimate
$5,750
Closing Costs
$11,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,951

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,972
Loan Amount $599,916
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$19,282

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
  • $3,763

    COMP ESTIMATED VALUE
  • $2.34

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,500
$3,500
RENT COMPS ANALYSIS
  • 239 Doris Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1936
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 73 Pala Ave San Jose, CA 2
    • 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1935 3 beds 3 baths ∙ 1,497 Sqft ∙ Built 1935
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.34
    •  
PROPERTY LISTING DETAILS
Gustavo Gonzalez
Valley View Properties
BESbswy