Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2529 Greengate Dr San Jose, CA 95132

4 Beds 3 Baths 1,960 sqft Built 1973

INVESTimate

$1,199,000

List Price

$3,720

$3,470 - $3,970

Rent Est.

$1,345,278  ( +12.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $611.73
  • 3 Days on Market
  • MLS # : ML81807504
  • Updated Date : 08/24/2020 at 16:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,960 sqft
  • Baths : 2 full , 1 half
Listing Agent

Landmark Real Estate & Financial

Listing Agent's Description

Immaculate 4 bedroom, 2.5 bath, two-story home is located in the Berryessa neighborhood. Bright and airy open floor plan featuring separate living room, family room and dining room. Large windows, fresh new paint, new carpet, and new lawn. Relax in the spacious and beautifully landscaped backyard. Sit under the covered patio or play basketball! The large shed in the backyard functions as a bonus playroom or workshop. Minutes away from Bart, shopping, and highway 680. Short commute to VTA, major freeways, and many high tech firms including Amazon, Google, and Apple's incoming N. San Jose campus. MUST SEE!

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: Cherrywood

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $379k1665k

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

Neighborhood: Cherrywood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800400042004400Rent in $17464493

* 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
Cherrywood Elementary School Primary Regular 423 18 7
Sierramont Middle School Middle Regular 1,104 41 7
Independence High School High Magnet 3,118 121 7

Cherrywood Elementary School

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 18
7
GreatSchools Rating

Sierramont Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 41
7
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 3,118
  • # of teachers: 121
7
GreatSchools Rating
 

$1,079,100$1,318,900$1,199,000

PURCHASE PRICE

$3,348$4,092$3,720

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

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,720
EXPENSES Loan Payment -$4,424
Property Tax -$1,401
Property Insurance -$74
Property Management Fees -$145
CASH FLOW
-$2,324

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.

$1,199,000

PROJECTED PRICE

$3,720

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.20%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,485

INVESTMENT

$323,485

Down Payment
$299,750
Rehab Estimate
$5,750
Closing Costs
$17,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $299,750
Loan Amount $899,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,720

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,989

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,7203$3,8004$3,8005$4,100
$4,100
RENT COMPS ANALYSIS
  • 2529 Greengate Dr San Jose, 2
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,720
    • $1.90
    •  
  • 3468 Whitman Way San Jose, 1
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.96
    •  
  • 1259 Lodestone Dr San Jose, 3
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1973
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.88
    •  
  • 1714 Seville Way San Jose, 4
    • 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1974
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.06
    •  
  • 1217 Pembroke Dr San Jose, 5
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 1971
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.24
    •  
PROPERTY LISTING DETAILS
Jennifer Xu
Landmark Real Estate & Financial
BESbswy