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2464 Pacific Rim Ln San Jose, CA 95121

4 Beds 3 Baths 2,806 sqft Built 1996

$1,895,000

List Price

$3,920

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $675.34
  • 7 Days on Market
  • MLS # : ML81824476
  • Updated Date : 01/05/2021 at 16:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,806 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Gorgeous remodeled Evergreen Hills home in a quite street with great view of the mountains. Open and bright floor plan with 4 beds and 3 baths with vaulted ceilings. Spacious remodeled kitchen with quartz counters, large island, Thermador Induction cooktop & oven, plenty of cabinets, stainless steel appliances & great pantry. The family room has an inviting fireplace and extensive windows to enjoy the stunning backyard. Oversize master suite with walk-in closet and newly remodeled bathroom. Beautiful engineered hardwood floor, Dual pane windows and LED lighting. Lower level newly remodeled, full bedroom & bath, living room & Kitchen, with separate entrance was converted to a rental unit. Can be easily converted back. Beautiful sunroom provides total 2806 sf (house 2626+sunroom 180) can be used as a studio/gym/office. Split-level backyard with Professional landscape, fruit trees and 2 patios that are ideal for entertaining. 3-car garage with electric outlet for EV. This is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silver Creek

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600k1700k1800kPrice in $380k1820k

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

Neighborhood: Silver Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q220002500300035004000450050005500Rent in $19075862

* 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
Laurelwood Elementary School Primary Regular 369 15 5
Laurelwood Elementary School Middle Regular 369 15 5
Silver Creek High School High Magnet 2,465 93 9

Laurelwood Elementary School

  • Education Level: Primary
  • # of students: 369
  • # of teachers: 15
5
GreatSchools Rating

Laurelwood Elementary School

  • Education Level: Middle
  • # of students: 369
  • # of teachers: 15
5
GreatSchools Rating

Silver Creek High School

  • Education Level: High
  • # of students: 2,465
  • # of teachers: 93
9
GreatSchools Rating
 

$1,705,500$2,084,500$1,895,000

PURCHASE PRICE

$3,528$4,312$3,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,920
EXPENSES Loan Payment -$6,582
Property Tax -$2,274
Property Insurance -$95
Property Management Fees -$153
CASH FLOW
-$5,184

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.

$1,895,000

PROJECTED PRICE

$3,920

PROJECTED RENT

0.21%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 7.9%
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-$80k-$70k-$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$507,925

INVESTMENT

$507,925

Down Payment
$473,750
Rehab Estimate
$5,750
Closing Costs
$28,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$6,582

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $473,750
Loan Amount $1,421,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$7,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,920

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $4,592

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$3,920
1$3,9202$4,2003$4,7004$5,350
$5,350
RENT COMPS ANALYSIS
  • 2464 Pacific Rim Ln San Jose, CA 1
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,920
    • $1.40
    •  
  • 3406 Eldiva Ct San Jose, CA 2
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.67
    •  
  • 5327 Ligurian Dr San Jose, CA 3
    • 4 beds 3 baths ∙ 3,112 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,112 Sqft ∙ Built 1996
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.51
    •  
  • 1681 Heritage Bay Pl 25 San Jose, CA 4
    • 5 beds 5 baths ∙ 3,090 Sqft ∙ Built 2004 5 beds 5 baths ∙ 3,090 Sqft ∙ Built 2004
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,350
    • $1.73
    •  
PROPERTY LISTING DETAILS
Chaya Shahar
Intero Real Estate Services
BESbswy