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2848 Summerdays Ct San Jose, CA 95132

3 Beds 3 Baths 1,903 sqft Built 1973

$1,249,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $656.33
  • 6 Days on Market
  • MLS # : ML81818088
  • Updated Date : 11/02/2020 at 19:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,903 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

A charming 3 bedroom 2.5 bath, single family home with 1,903 Sq Ft living space & 8,826 Sq. Ft. lot, located in a private cul-de-sac location in the sought after Berryessa neighborhood! Designed with style, this contemporary home boasts many upgrades. Well-designed open-concept floor plan with an abundance of natural sunlight. A modern kitchen with features such as granite counters with backsplash, beautiful contemporary cabinetry, and all stainless-steel appliances. A five-burner gas range, double oven, recess lighting, updated bathrooms, Central A/C, elegant gas burning fireplace in the family room. A picturesque private backyard perfect for entertaining your guests or relaxation. Commute to High Tech Firms Including Apple, Google & Amazon campus in San Jose. Close to BART and Train station. Easy access to Hwy I-680, I-880. Close proximity to schools, dining, shopping and Penitencia Creek Park.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Summerdale

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1313k

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

Neighborhood: Summerdale

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
Summerdale Elementary School Primary Regular 498 20 6
Piedmont Middle School Middle Regular 875 33 6
Independence High School High Magnet 3,118 121 7

Summerdale Elementary School

  • Education Level: Primary
  • # of students: 498
  • # of teachers: 20
6
GreatSchools Rating

Piedmont Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 33
6
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 3,118
  • # of teachers: 121
7
GreatSchools Rating
 

$1,124,100$1,373,900$1,249,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$4,608
Property Tax -$1,459
Property Insurance -$73
Property Management Fees -$141
CASH FLOW
-$2,662

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.

$1,249,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$336,735

INVESTMENT

$336,735

Down Payment
$312,250
Rehab Estimate
$5,750
Closing Costs
$18,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,250
Loan Amount $936,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$61

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,720

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,5503$3,6204$3,7505$3,800
$3,800
RENT COMPS ANALYSIS
  • 2848 Summerdays Ct San Jose, CA 3
    • 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $1.90
    •  
  • 3468 Whitman Way San Jose, CA 1
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1965
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.96
    •  
  • 2594 Mabury Sq San Jose, CA 2
    • 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1979
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $2.03
    •  
  • 925 Foxridge Way San Jose, CA 4
    • 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
    •  
  • 3399 Burgundy Dr San Jose, CA 5
    • 4 beds 1 baths ∙ 1,920 Sqft ∙ Built 1973 4 beds 1 baths ∙ 1,920 Sqft ∙ Built 1973
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.98
    •  
PROPERTY LISTING DETAILS
Nakul Kapoor
Intero Real Estate Services
BESbswy