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258 Silverlake Drive Milpitas, CA 95035

5 Beds 3 Baths 2,697 sqft Built 1997

$1,625,000

List Price

$4,270

$4K - $4.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $602.52
  • 2 Days on Market
  • MLS # : BE40932339
  • Updated Date : 12/19/2020 at 15:18
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,697 sqft
  • Baths : 3 full
Listing Agent

Realty One Group Amr

Listing Agent's Description

PREMIER LOCATION within close proximity to top rated schools, shopping plazas, restaurants, and many more amenities. This two story beauty is modern with upgrades with an open and airy feel throughout. The kitchen has designer cabinets, quartz counter tops, mosaic tile backsplash, and amazing large island breakfast nook. Upstairs loft is perfect set up for working from home. MANY other upgrades throughout the home come check it out for yourself. (HOA name: Beresford Master Association)

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: Northwestern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $354k1220k

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

Neighborhood: Northwestern Milpitas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $16573804

* 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
Curtner Elementary School Primary Regular 735 27 9
Curtner Elementary School Middle Regular 735 27 9
Milpitas High School High Regular 3,105 117 9

Curtner Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 27
9
GreatSchools Rating

Curtner Elementary School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 27
9
GreatSchools Rating

Milpitas High School

  • Education Level: High
  • # of students: 3,105
  • # of teachers: 117
9
GreatSchools Rating
 

$1,462,500$1,787,500$1,625,000

PURCHASE PRICE

$3,843$4,697$4,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,270
EXPENSES Loan Payment -$5,996
Property Tax -$1,595
Property Insurance -$92
HOA -$100
Property Management Fees -$167
CASH FLOW
-$3,679

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.

$1,625,000

PROJECTED PRICE

$4,270

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.8%
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$1.0M$2.0M$3.0M$4.0M$5.0M$6.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$436,375

INVESTMENT

$436,375

Down Payment
$406,250
Rehab Estimate
$5,750
Closing Costs
$24,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $406,250
Loan Amount $1,218,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$129

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
  • $3,857

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$4,000
$4,000
RENT COMPS ANALYSIS
  • 258 Silverlake Drive Milpitas, CA 1
    • 5 beds 3 baths ∙ 2,697 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,697 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 353 Silverlake Ct Milpitas, CA 2
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 1993
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.43
    •  
PROPERTY LISTING DETAILS
Arjun Atwal
Realty One Group Amr
BESbswy