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2510 Ontario Dr San Jose, CA 95124

4 Beds 2 Baths 1,838 sqft Built 1961

INVESTimate

$1,495,000

List Price

$4,120

$3,870 - $4,370

Rent Est.

$1,654,367  ( +10.66%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $813.38
  • 7 Days on Market
  • MLS # : ML81803734
  • Updated Date : 08/21/2020 at 09:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,838 sqft
  • Baths : 2 full
Listing Agent

Kw Bay Area Estates

Listing Agent's Description

Original owners of this quaint Willow Glen home. Approx. 1838+/- square feet on a 9400+/- square foot lot. Great location on an interior street. 4 bedrooms of which master and another bedroom are on the first floor. Two bedrooms and a full bathroom are upstairs. Two full bathrooms one on each floor. Great kitchen-family room lay out. Formal dining room with hard wood floors. New carpet in the step down living room. Fireplace that burns real wood. Home has been painted both inside and outside. Composition shingle roof. Huge attached two car garage. The schools are Bagby elementary, Ida Price middle school and Branham High school. Buyers to confirm schools

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Dry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400kPrice in $373k1475k

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

Neighborhood: Dry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2180020002200240026002800300032003400360038004000Rent in $17854107

* 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
Bagby Elementary School Primary Regular 665 27 6
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Bagby Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 27
6
GreatSchools Rating

Price Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 43
7
GreatSchools Rating

Branham High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 62
9
GreatSchools Rating
 

$1,345,500$1,644,500$1,495,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$5,516
Property Tax -$1,715
Property Insurance -$71
Property Management Fees -$161
CASH FLOW
-$3,343

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.

$1,495,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.66%
Maintenance Year (1-5) 8.00%
Vacancy 5.19%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$401,925

INVESTMENT

$401,925

Down Payment
$373,750
Rehab Estimate
$5,750
Closing Costs
$22,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,516

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $373,750
Loan Amount $1,121,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,120

    LIST RENT
  • $2.24

    LIST RENT PER SQFT
  • $4,172

    COMP ESTIMATED VALUE
  • $2.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$4,1203$4,5004$5,350
$5,350
RENT COMPS ANALYSIS
  • 2510 Ontario Dr San Jose, 2
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $4,120
    • $2.24
    •  
  • 2934 Newark Way San Jose, 1
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.97
    •  
  • 1477 Husted Ave San Jose, 3
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
  • 1591 Phantom Ave San Jose, 4
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1955
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,350
    • $2.51
    •  
PROPERTY LISTING DETAILS
Chuck Nunnally
Kw Bay Area Estates
BESbswy