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2519 Cherry Ave San Jose, CA 95125

5 Beds 3 Baths 2,964 sqft Built 1963

INVESTimate

$1,988,888

List Price

$5,700

$5,450 - $5,950

Rent Est.

$2,207,069  ( +10.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $671.01
  • 6 Days on Market
  • MLS # : ML81806846
  • Updated Date : 08/22/2020 at 10:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,964 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

All the space you want and the features you need to love where you live! 4 oversized bedrooms including the master and a flex room which can be a home office, gym, ADU, guest room, or separate apartment. The main floor has the kitchen, living room and dining rooms and flows to the sparkling pool and spa for plenty of fun in the sun! The kitchen has been recently refreshed and updated. There are hardwood floors throughout the home including the lower level, which has a built-in-bar, wood stove and family room. The family room flows to the lower patio and grounds which can be sectioned off from the pool for safety. The flex room has its own kitchen and private entrance, and it can be closed off from the rest of the home. Take meetings, set up distance learning or shelter-in with friends or family, this space has endless uses! Owned solar and close to downtown WG. Let this home be your private oasis, relax in the hot tub, end the day by the fire pit or cozy up but the fire place!

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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: 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
Schallenberger Elementary School Primary Regular 531 19 6
Willow Glen Middle School Middle Regular 1,259 57 6
Willow Glen High School High Regular 1,660 75 7

Schallenberger Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 19
6
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
 

$1,789,999$2,187,777$1,988,888

PURCHASE PRICE

$5,130$6,270$5,700

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$6.0M$7.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$7.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,700
EXPENSES Loan Payment -$7,338
Property Tax -$2,221
Property Insurance -$99
Property Management Fees -$222
CASH FLOW
-$4,180

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.

$1,988,888

PROJECTED PRICE

$5,700

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.97%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$532,805

INVESTMENT

$532,805

Down Payment
$497,222
Rehab Estimate
$5,750
Closing Costs
$29,833

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$7,338

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $497,222
Loan Amount $1,491,666
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$79

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
  • $5,157

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,999
$4,999
RENT COMPS ANALYSIS
  • 2519 Cherry Ave San Jose, 1
    • 5 beds 3 baths ∙ 2,964 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,964 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1742 Nomark Ct San Jose, 2
    • 4 beds 4 baths ∙ 2,870 Sqft ∙ Built 1965 4 beds 4 baths ∙ 2,870 Sqft ∙ Built 1965
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,999
    • $1.74
    •  
PROPERTY LISTING DETAILS
Michelle Elliott
Coldwell Banker Realty
BESbswy