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2720 Evora Dr San Jose, CA 95124

4 Beds 3 Baths 2,143 sqft Built 1958

$1,560,000

List Price

$4,540

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $727.95
  • 4 Days on Market
  • MLS # : ML81823531
  • Updated Date : 12/19/2020 at 08:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 3 full
Listing Agent

Bankers Network Corporation Of America

Listing Agent's Description

Wow, this is going to be a great buy - a spacious home in a great neighborhood. Though it is on record as a 2,143 square foot home, 4 bedroom, 3 bathroom, it could be more than that. There are two additional rooms on the bottom floor, that could be used for formal dining/bedrooms/office/family room or what have you. Upstairs are 3 bedrooms that have had some upgrades, a third bathroom and some nice views. The kitchen features Cesar Stone countertops, built in appliances and a bay window. There are double pane windows throughout the home and also copper plumbing. The backyard has an overhang that lends itself for year round use/entertaining, a nice, solid workshop, a cement landing for a jacuzzi/BBQ? and dog runs on each side of the house. This is a home/property we were planning to upgrade ourselves, but have decided to allow for the new owners to make their own decisions with regards to upgrades or stylistic touches. Enjoy making this your own dream home. *Pics are coming soon

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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: Cambrian

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Cambrian

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Fammatre Elementary School Primary Regular 558 22 6
Price Middle School Middle Regular 1,102 43 7
Branham High School High Regular 1,468 62 9

Fammatre Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 22
6
GreatSchools Rating

Price Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 43
7
GreatSchools Rating

Branham High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 62
9
GreatSchools Rating
 

$1,404,000$1,716,000$1,560,000

PURCHASE PRICE

$4,086$4,994$4,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,540
EXPENSES Loan Payment -$5,756
Property Tax -$1,790
Property Insurance -$79
Property Management Fees -$177
CASH FLOW
-$3,261

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.

$1,560,000

PROJECTED PRICE

$4,540

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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-$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$419,150

INVESTMENT

$419,150

Down Payment
$390,000
Rehab Estimate
$5,750
Closing Costs
$23,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $390,000
Loan Amount $1,170,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$63

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
  • $4,849

    COMP ESTIMATED VALUE
  • $2.26

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,6003$4,5004$5,0005$5,495
$5,495
RENT COMPS ANALYSIS
  • 2720 Evora Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2934 Newark Way San Jose, CA 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.97
    •  
  • 1477 Husted Ave San Jose, CA 3
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1951
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.33
    •  
  • 456 Manchester Ave Campbell, CA 4
    • 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1955 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1955
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $2.45
    •  
  • 2247 Constitution Dr San Jose, CA 5
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1966
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,495
    • $2.30
    •  
PROPERTY LISTING DETAILS
Brian Stuckey
Bankers Network Corporation Of America
BESbswy