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2887 Rustic Dr San Jose, CA 95124

3 Beds 3 Baths 1,751 sqft Built 1957

$1,450,000

List Price

$3,880

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $828.10
  • 4 Days on Market
  • MLS # : ML81820860
  • Updated Date : 11/20/2020 at 11:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,751 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This stunning 3 bedroom,3 bath home shows pride of ownership. Two-story in a highly sought neighborhood. Hardwood flooring and recessed lighting in the common areas, carpeted bedrooms, and 2 panel interior doors can be found throughout. An open floor plan with plenty of natural light. The kitchen is spacious and bright with skylight, custom cabinetry, stainless steel appliances and granite counters. Enjoy the wood burning fireplace in the living room or privacy of the separate family room both with sliding doors to the yard. Entertain and relax in the private rear yard with large stamped patio area and lavish lawn. Great Cambrian Schools!!! Easy access to commute routes, shopping, restaurants, farmers markets and outdoor recreation.

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: 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
 

$1,305,000$1,595,000$1,450,000

PURCHASE PRICE

$3,492$4,268$3,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,880
EXPENSES Loan Payment -$5,350
Property Tax -$1,663
Property Insurance -$69
Property Management Fees -$151
CASH FLOW
-$3,354

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.

$1,450,000

PROJECTED PRICE

$3,880

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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-$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$390,000

INVESTMENT

$390,000

Down Payment
$362,500
Rehab Estimate
$5,750
Closing Costs
$21,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,350

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $362,500
Loan Amount $1,087,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,880

    LIST RENT
  • $2.22

    LIST RENT PER SQFT
  • $4,167

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,7954$3,8005$3,880
$3,880
RENT COMPS ANALYSIS
  • 2887 Rustic Dr San Jose, CA 5
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1957 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $2.22
    •  
  • 2934 Newark Way San Jose, CA 1
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 1957
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.97
    •  
  • 2577 New Jersey Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1957
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.33
    •  
  • 1810 Brighten Ave San Jose, CA 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1958
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $2.56
    •  
  • 2154 Casa Mia Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1956
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.66
    •  
PROPERTY LISTING DETAILS
Mark Chiavetta
Coldwell Banker Realty
BESbswy