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2790 Smithers Dr San Jose, CA 95148

3 Beds 2 Baths 1,374 sqft Built 1970

$965,000

List Price

$3,460

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $702.33
  • 3 Days on Market
  • MLS # : ML81825075
  • Updated Date : 01/09/2021 at 15:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,374 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Happy New Year & Happy New Home For You! What a perfect family home! Conveniently located in desirable Evergreen neighborhood with top Evergreen Schools! Your family will love this 4 bedroom, 2 bath tastefully remodeled home featuring spacious floor plan, updated kitchen with marble tile floors, granite countertops & plenty of cabinet space! Also featuring new laminate flooring throughout, new interior paint, step down family room with fireplace, nice size bedrooms, spacious master suite with his & her closets, newly remodeled master bath and hall bathroom, dual pane windows, spacious backyard with covered patio, lemon & fruit trees. Close to schools, shopping mall, grocery, pharmacy, new Costco & public transportation. Easy access to freeways 101, 280 & 680. This a home that your whole family will love!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Holy Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $347k1220k

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

Neighborhood: Holy Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Holly Oak Elementary School Primary Regular 655 25 5
Quimby Oak Middle School Middle Regular 983 37 8
Silver Creek High School High Magnet 2,465 93 9

Holly Oak Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 25
5
GreatSchools Rating

Quimby Oak Middle School

  • Education Level: Middle
  • # of students: 983
  • # of teachers: 37
8
GreatSchools Rating

Silver Creek High School

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

$868,500$1,061,500$965,000

PURCHASE PRICE

$3,114$3,806$3,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,460
EXPENSES Loan Payment -$3,352
Property Tax -$1,158
Property Insurance -$60
Property Management Fees -$135
CASH FLOW
-$1,245

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.

$965,000

PROJECTED PRICE

$3,460

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.7%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$261,475

INVESTMENT

$261,475

Down Payment
$241,250
Rehab Estimate
$5,750
Closing Costs
$14,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,352

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $241,250
Loan Amount $723,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,460

    LIST RENT
  • $2.52

    LIST RENT PER SQFT
  • $3,593

    COMP ESTIMATED VALUE
  • $2.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,4603$3,700
$3,700
RENT COMPS ANALYSIS
  • 2790 Smithers Dr San Jose, CA 2
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,460
    • $2.52
    •  
  • 2674 Flintwood Ct San Jose, CA 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.70
    •  
  • 2868 Haughton Dr San Jose, CA 3
    • 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1967
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.53
    •  
PROPERTY LISTING DETAILS
Ronelyn Samudio
Intero Real Estate Services
BESbswy