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2842 Varden Ave San Jose, CA 95124

3 Beds 1 Baths 930 sqft Built 1952

INVESTimate

$975,000

List Price

$3,020

$2,770 - $3,270

Rent Est.

$1,088,393  ( +11.63%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1952
  • Price/Sqft : $1,048.39
  • 9 Days on Market
  • MLS # : ML81806745
  • Updated Date : 08/24/2020 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 930 sqft
  • Baths : 1 full
Listing Agent

Richard G. Matusich & Assoc., Inc.

Listing Agent's Description

Cute, clean little Cambrian Park home, tucked away in a convenient location, walking distance to Fammatre Elementary & Ida Price Charter Middle School. This quaint single level home offers 3 bedrooms, 1 bathroom w/shower over tub, spacious living room w/dining area & kitchen w/access to garage. Laundry area inside 1 car garage w/electric door opener. New carpet & interior paint, freshened up yards, covered side patio, spacious rear yard w/ patio & automatic lawn sprinklers (front & rear). Gas wall furnace, wall Air Conditioner in kitchen, Composition shingle roof & stainless steel double sink in kitchen w/gas stove/oven. Convenient location close to Doerr Park, Home Depot, Library, Little League, banks, post office, Camden Community Center, The Pruneyard, Trader Joe's, Whole Foods & Highways 85/17/87/280. Close to bus lines, retail, restaurants and all things Cambrian, close to Willow Glen shopping & Downtown Campbell. Virtual Tour available. Don't miss out on this one! Move in ready!

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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: 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
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

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-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$3,597
Property Tax -$1,119
Property Insurance -$50
Property Management Fees -$129
CASH FLOW
-$1,874

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.

$975,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.63%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$3,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$5

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
  • $2,595

    COMP ESTIMATED VALUE
  • $2.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3503$3,4004$3,500
$3,500
RENT COMPS ANALYSIS
  • 2842 Varden Ave San Jose, 1
    • 3 beds 1 baths ∙ 930 Sqft ∙ Built 1952 3 beds 1 baths ∙ 930 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3119 Lowry Dr San Jose, 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.64
    •  
  • 2302 New Jersey Ave San Jose, 3
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1963
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.81
    •  
  • 5036 Noella Way San Jose, 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1958
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.92
    •  
PROPERTY LISTING DETAILS
Robbie Matusich
Richard G. Matusich & Assoc., Inc.
BESbswy