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2475 Walnut Grove Ave San Jose, CA 95128

3 Beds 2 Baths 1,706 sqft Built 1950

$1,375,000

List Price

$4,180

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $805.98
  • 5 Days on Market
  • MLS # : ML81824283
  • Updated Date : 12/30/2020 at 20:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Re/max Real Estate Services

Listing Agent's Description

A Fabulous Home in a Wonderful San Jose Neighborhood near Santana Row and the Valley Fair Shopping Area. This 3 Bedroom Home features an Open, Flowing Floor Plan Throughout with 2 Bedrooms Downstairs and a Huge Master Suite Upstairs. A massive Kitchen area with Island and plenty of cabinets for everything you might need. It will be challenging to use all the Kitchen cabinet space. This spacious Kitchen looks out onto the in-ground pool. Back yard is very low maintenance as is the Front yard. Huge master suite with Walk-in Closet and a 2nd closet. The spacious Loft could be Family Room, Game Room, Study Room, Hobby Room or, with its enormous size could be a combination of all of these. Within a short drive to the New Apple Campus and Kaiser Hospital, Close to many parks, Bike to Santa Clara University, Walk to O'Connor Hospital, Santana Row and Valley Fair. A wonderful neighborhood to enjoy morning or evening walks. Easy access to Highway 880 & 280.

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: Cory

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $363k1220k

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

Neighborhood: Cory

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800Rent in $15853804

* 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
Trace Elementary School Primary Regular 979 35 4
Hoover Middle School Middle Magnet 1,074 49 3
Abraham Lincoln High School High Regular 1,851 79 7

Trace Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 35
4
GreatSchools Rating

Hoover Middle School

  • Education Level: Middle
  • # of students: 1,074
  • # of teachers: 49
3
GreatSchools Rating

Abraham Lincoln High School

  • Education Level: High
  • # of students: 1,851
  • # of teachers: 79
7
GreatSchools Rating
 

$1,237,500$1,512,500$1,375,000

PURCHASE PRICE

$3,762$4,598$4,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,180
EXPENSES Loan Payment -$5,073
Property Tax -$1,535
Property Insurance -$68
Property Management Fees -$163
CASH FLOW
-$2,660

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.

$1,375,000

PROJECTED PRICE

$4,180

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$370,125

INVESTMENT

$370,125

Down Payment
$343,750
Rehab Estimate
$5,750
Closing Costs
$20,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,073

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $343,750
Loan Amount $1,031,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$2

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
  • $4,401

    COMP ESTIMATED VALUE
  • $2.58

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,7904$4,1505$4,300
$4,300
RENT COMPS ANALYSIS
  • 2475 Walnut Grove Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 914 S Baywood Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.37
    •  
  • 962 Sunlite Dr Santa Clara, CA 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1949
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $2.59
    •  
  • 471 Jefferson St Santa Clara, CA 4
    • 4 beds 2 baths ∙ 1,613 Sqft ∙ Built 1930 4 beds 2 baths ∙ 1,613 Sqft ∙ Built 1930
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.57
    •  
  • 2466 Austin Pl Santa Clara, CA 5
    • 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1956
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $2.79
    •  
PROPERTY LISTING DETAILS
Michael Garvey
Re/max Real Estate Services
BESbswy