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2816 Ione Dr San Jose, CA 95132

4 Beds 3 Baths 2,188 sqft Built 1969

$1,489,000

List Price

$3,870

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $680.53
  • 4 Days on Market
  • MLS # : ML81818930
  • Updated Date : 11/05/2020 at 09:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,188 sqft
  • Baths : 3 full
Listing Agent

Maxreal

Listing Agent's Description

Spectacular location in North San Jose. Excellent schools: Ruskin Elementary, Sierramont Middle, and Peidmont Hills High (buyer to verify). Dramatic, open & airy home with lots of natural light. No wall was left untouched. Completely renovated in 2020. Stunning architecture design w/ open flr plan & impeccable details throughout. This stunning home features 4 bedrms & 3 full baths. Stunning Chefs kitchen w/ customized cabinetry & quartz counters, beautiful island, and gas burning stove. Kitchen open to family room & connect formal dinning and living room, large 4 panel sliding doors to the back yard. 3 Bedrooms and 2 full baths on the first floor, one bedroom one full bath with huge great room and office area upstairs. Gleaming new engineer hardwood floor, new DP windows & lighting fixtures, new exterior & interior painting, new furnace, new entry door & all interior doors. Quick access to freeways 680 and 880, close to grocery stores, restaurants, schools & light rail. A MUST SEE!

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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: Ruskin

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Ruskin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17533804

* 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
Ruskin Elementary School Primary Regular 661 27 8
Sierramont Middle School Middle Regular 1,104 41 7
Piedmont Hills High School High Magnet 2,215 89 9

Ruskin Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 27
8
GreatSchools Rating

Sierramont Middle School

  • Education Level: Middle
  • # of students: 1,104
  • # of teachers: 41
7
GreatSchools Rating

Piedmont Hills High School

  • Education Level: High
  • # of students: 2,215
  • # of teachers: 89
9
GreatSchools Rating
 

$1,340,100$1,637,900$1,489,000

PURCHASE PRICE

$3,483$4,257$3,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,870
EXPENSES Loan Payment -$5,494
Property Tax -$1,740
Property Insurance -$80
Property Management Fees -$151
CASH FLOW
-$3,594

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.

$1,489,000

PROJECTED PRICE

$3,870

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.7%
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$1.0M$2.0M$3.0M$4.0M$5.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$400,335

INVESTMENT

$400,335

Down Payment
$372,250
Rehab Estimate
$5,750
Closing Costs
$22,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $372,250
Loan Amount $1,116,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$191

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
  • $3,999

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7503$3,8004$4,0505$4,200
$4,200
RENT COMPS ANALYSIS
  • 2816 Ione Dr San Jose, CA 1
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 925 Foxridge Way San Jose, CA 2
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1974
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.85
    •  
  • 1259 Lodestone Dr San Jose, CA 3
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 1973
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.88
    •  
  • 2742 Mignon Dr San Jose, CA 4
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1972
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.72
    •  
  • 1999 Cape Horn Dr San Jose, CA 5
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1979
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.86
    •  
PROPERTY LISTING DETAILS
Xiaoping Song
Maxreal
BESbswy