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2501 Apricot Way Gilroy, CA 95020

4 Beds 3 Baths 2,132 sqft Built 2016

$849,888

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $398.63
  • 3 Days on Market
  • MLS # : ML81820410
  • Updated Date : 11/20/2020 at 23:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,132 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Coming Soon! Gorgeous Mountain Views! Heartland West Community. 2132 sq. ft. Newer gorgeous home with 3 bedrooms upstairs and 1 bedroom/Office/Den Downstairs! 3 Full Bathrooms. Don't miss a chance on the Coming soon property.

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $346k1220k

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

Zip Code: 95020

ZipNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16443804

* 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
Las Animas Elementary School Primary Regular 681 25 6
Ascencion Solorsano Middle School Middle Regular 853 28 6
Gilroy High School High Regular 1,364 65 5

Las Animas Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 25
6
GreatSchools Rating

Ascencion Solorsano Middle School

  • Education Level: Middle
  • # of students: 853
  • # of teachers: 28
6
GreatSchools Rating

Gilroy High School

  • Education Level: High
  • # of students: 1,364
  • # of teachers: 65
5
GreatSchools Rating
 

$764,899$934,877$849,888

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,136
Property Tax -$866
Property Insurance -$79
HOA -$101
Property Management Fees -$136
CASH FLOW
-$828

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.

$849,888

PROJECTED PRICE

$3,490

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.0%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$230,970

INVESTMENT

$230,970

Down Payment
$212,472
Rehab Estimate
$5,750
Closing Costs
$12,748

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,472
Loan Amount $637,416
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$10,661

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $3,646

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,490
$3,490
RENT COMPS ANALYSIS
  • 2501 Apricot Way Gilroy, CA 2
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.64
    •  
  • 590 Eden St Gilroy, CA 1
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 1996
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.71
    •  
PROPERTY LISTING DETAILS
Gary Palacios
Compass
BESbswy