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2684 Mozart Ave San Jose, CA 95122

3 Beds 2 Baths 1,043 sqft Built 1961

INVESTimate

$728,000

List Price

$3,170

$2,920 - $3,420

Rent Est.

$198,670

Investment Est.

$819,073  ( +12.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $697.99
  • 3 Days on Market
  • MLS # : ML81807596
  • Updated Date : 08/25/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,043 sqft
  • Baths : 1 full , 1 half
Listing Agent

Kw Bay Area Estates

Listing Agent's Description

Opportunity awaits you here! Detached single family home sits on a corner lot with ample front and backyard spaces. Dual pane windows with newer roof, plumbing, water heater and more! Kitchen is upgraded with recessed lighting, granite counter tops, updated cabinets with in and outer lighting complimented by stainless steel appliances, the stove is industrial in size. A must see! For a private showing call 408.438.6861.

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: Meadowfair

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $264k1220k

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

Neighborhood: Meadowfair

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833910

* 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
John J. Montgomery Elementary School Primary Regular 587 24 4
John J. Montgomery Elementary School Middle Regular 587 24 4
Silver Creek High School High Magnet 2,465 93 9

John J. Montgomery Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 24
4
GreatSchools Rating

John J. Montgomery Elementary School

  • Education Level: Middle
  • # of students: 587
  • # of teachers: 24
4
GreatSchools Rating

Silver Creek High School

  • Education Level: High
  • # of students: 2,465
  • # of teachers: 93
9
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$655,200$800,800$728,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,686
Property Tax -$877
Property Insurance -$52
Property Management Fees -$129
CASH FLOW
-$575

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$728,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 12.51%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,670

INVESTMENT

$198,670

Down Payment		 $182,000
Rehab Estimate		 $5,750
Closing Costs		 $10,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,000
Loan Amount $546,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$16,548

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

  • $2,813

    COMP ESTIMATED VALUE

  • $2.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8503$3,4004$3,750
$3,750
RENT COMPS ANALYSIS
  • 2684 Mozart Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,043 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,043 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3289 Lantern Way San Jose, 2
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977
    property image
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.47
    •  
  • 2674 Flintwood Ct San Jose, 3
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.70
    •  
  • 1191 Tallahassee Dr San Jose, 4
    • 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1963
    property image
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.92
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Sergio & Ivonne
Kw Bay Area Estates

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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