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2464 Cordoba Way San Jose, CA 95125

3 Beds 2 Baths 1,554 sqft Built 1959

$1,449,000

List Price

$3,710

$3.5K - $4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $932.43
  • 6 Days on Market
  • MLS # : ML81818667
  • Updated Date : 11/05/2020 at 09:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,554 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Willow Glen Charmer,Extensively Updated w/Bright Open Floor Plan,New Interior Paint,Large Lot,Award Winning Booksin Elementary School Boundary,Backyard is Perfect for Entertaining,Walking Distance to Schools & Parks.Great Room features Expansive Picture Windows for Plenty of Natural Light,Gleaming Hardwood Floors Throughout,Cozy Wood Burning Fireplace w/Brick Hearth&Wood Mantel,Recessed Lights w/LED,Crown Molding&Sliding Glass Door to Backyard Patio Overlooking Serene Backyard.Gourmet Chef's Kitchen w/Granite Slab Countertops,Tile Backsplash,KitchenAid Refrigerator,GE Dishwasher,Stainless Steel Sink,Newly Re-Grouted Tile Floors,Rich Wood Cabinetry w/Ample Storage and Hunter Douglas Shades.Dining Area with Designer Chandelier,Hardwood Floors,Double Pane Windows Throughout,Crown Molding&Recessed Lights.Sumptuous Master Bedrooms with Huge Walk-In Closet.Pampering Master Bathroom,Granite Vanity&Tile Design Shower.Professionally Landscaped Front&Backyard,New Mulch,Flowers&Plants!Nest& Ring!

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 South - Lincoln Glen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Willow Glen South - Lincoln Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $18854493

* 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
 

$1,304,100$1,593,900$1,449,000

PURCHASE PRICE

$3,339$4,081$3,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,710
EXPENSES Loan Payment -$5,346
Property Tax -$1,618
Property Insurance -$65
Property Management Fees -$145
CASH FLOW
-$3,464

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.

$1,449,000

PROJECTED PRICE

$3,710

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$389,735

INVESTMENT

$389,735

Down Payment
$362,250
Rehab Estimate
$5,750
Closing Costs
$21,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $362,250
Loan Amount $1,086,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,710

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $4,114

    COMP ESTIMATED VALUE
  • $2.65

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7103$3,7954$4,0005$4,800
$4,800
RENT COMPS ANALYSIS
  • 2464 Cordoba Way San Jose, CA 2
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $3,710
    • $2.39
    •  
  • 1462 Jenvey Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.44
    •  
  • 1810 Brighten Ave San Jose, CA 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.56
    •  
  • 1514 San Joaquin Ave San Jose, CA 4
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1954 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1954
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.80
    •  
  • 1657 Andalusia Way San Jose, CA 5
    • 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 1960
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.79
    •  
PROPERTY LISTING DETAILS
Alicia Duarte
Intero Real Estate Services
BESbswy