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257 Bieber Dr San Jose, CA 95123

3 Beds 2 Baths 1,617 sqft Built 1963

$699,950

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $432.87
  • 2 Days on Market
  • MLS # : ML81824072
  • Updated Date : 12/26/2020 at 18:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,617 sqft
  • Baths : 2 full
Listing Agent

Kw Bay Area Estates

Listing Agent's Description

Diamond in the rough! Incredible investment opportunity in family-friendly Blossom Valley neighborhood. Opportunity awaits! This fixer-upper is perfect for a flip or for an investor to fix-up and rent. The home has great potential with 3 bedrooms, 2 bathrooms, 2 car garage, and an open floor plan. It has 1 bedroom and full bathroom downstairs and the other bedrooms and bathroom located on the second story. Bring your contractor and restore this beauty to its original glory. The investor with a vision will be rewarded. Dont miss this amazing opportunity!

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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: Anderson East

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Anderson East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17303804

* 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
Anderson Elementary School Primary Regular 453 18 5
Bernal Intermediate School Middle Regular 807 36 7
Oak Grove High School High Magnet 1,903 78 6

Anderson Elementary School

  • Education Level: Primary
  • # of students: 453
  • # of teachers: 18
5
GreatSchools Rating

Bernal Intermediate School

  • Education Level: Middle
  • # of students: 807
  • # of teachers: 36
7
GreatSchools Rating

Oak Grove High School

  • Education Level: High
  • # of students: 1,903
  • # of teachers: 78
6
GreatSchools Rating
 

$629,955$769,945$699,950

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$2,583
Property Tax -$845
Property Insurance -$66
Property Management Fees -$140
CASH FLOW
-$34

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.

$699,950

PROJECTED PRICE

$3,600

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 9.1%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,237

INVESTMENT

$191,237

Down Payment
$174,988
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,988
Loan Amount $524,963
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$61,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,600

    LIST RENT
  • $2.23

    LIST RENT PER SQFT
  • $3,650

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$3,495
1$3,4952$3,6003$3,6004$3,6905$4,000
$4,000
RENT COMPS ANALYSIS
  • 257 Bieber Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.23
    •  
  • 240 Branham Ln San Jose, CA 1
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1976
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $2.27
    •  
  • 186 Herlong Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 1966
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.16
    •  
  • 185 Tulip Blossom Ct San Jose, CA 4
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1976
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,690
    • $2.43
    •  
  • 5894 Paddon Cir San Jose, CA 5
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1972
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.17
    •  
PROPERTY LISTING DETAILS
Matt Cossell
Kw Bay Area Estates
BESbswy