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288 S 12th St San Jose, CA 95112

3 Beds 3 Baths 1,602 sqft Built 1920

$1,249,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1920
  • Price/Sqft : $779.65
  • 2 Days on Market
  • MLS # : ML81819330
  • Updated Date : 11/07/2020 at 00:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,602 sqft
  • Baths : 3 full
Listing Agent

Golden State Realty, Jsg

Listing Agent's Description

Wait is over and fully upgraded 3 bedroom and 3 full bath Magnificent home is ready for showing*All new sheetrock after upgrading framing according to city codes**Brand new Kitchen and brand new Bathrooms***All new flooring**All new copper and ABS plumbing *Brand NEW AC/Heating unit **New instant water heater***All new recess LED Lights ,electric wiring and panel**Crown molding entire house* WET BAR **Inside laundry *All new Custom paint in and out**All new Fence**New stump concrete**All New insulation** Brand New Roof****Separate entry for partial finished basement and full bath* Breath taking front porch *Close to San Jose State University **Easy access to freeways and major down town

SEE MORE

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: Naglee Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Naglee Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21400160018002000220024002600280030003200340036003800Rent in $13143804

* 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
Horace Mann Elementary School Primary Magnet 516 19 3
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Horace Mann Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 19
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

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

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$4,608
Property Tax -$1,396
Property Insurance -$66
Property Management Fees -$142
CASH FLOW
-$2,582

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

$3,630

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.9%
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-$45k-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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$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 80% 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

-$40

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
  • $4,029

    COMP ESTIMATED VALUE
  • $2.52

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1503$4,070
$4,070
RENT COMPS ANALYSIS
  • 288 S 12th St San Jose, CA 1
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1920 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1920
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 263 Washington St San Jose, CA 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.12
    •  
  • 837 Prevost St San Jose, CA 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1900 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1900
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,070
    • $2.91
    •  
PROPERTY LISTING DETAILS
Jaswinder Gill
Golden State Realty, Jsg
BESbswy