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2961 Williams Rd San Jose, CA 95128

4 Beds 2 Baths 1,525 sqft Built 1950

$1,350,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $885.25
  • 6 Days on Market
  • MLS # : ML81813749
  • Updated Date : 11/11/2020 at 19:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,525 sqft
  • Baths : 1 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

HOME FOR THE HOLIDAYS! MOVE IN READY! Open floorplan this home has 4 bed/ 1.5 baths & is approx. 1525 Sq.Ft. on a 9360 sq.ft.lot w/ room for a possible ADU. Fresh interior paint w/ newly painted cabinets in kitchen, new carpet, new appliances, indoor laundry & wood burning fireplace perfect for those cold winter nights. Built in organizers in closets, workshop, backyard w/ mature trees and the most beautiful magnolia trees in the spring! Private backyard with new fencing. Plenty of room for parking/RV/boat and all of your toys! Centrally located near the new Winchester urban development & a walk to Santana Row, minutes away from Downtown Campbell & Pruneyard EZ access to freeways 17, 280, 880, and all high tech campuses. Lots of shopping and restaurants nearby. Move in ready, but leaves plenty of imagination to make this home your own in a multi million dollar neighborhood. All Section 1 termite work complete. 4th bedroom add/conversion done w permit per sellers. WELCOME HOME!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hamann Park

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300kPrice in $373k1377k

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

Neighborhood: Hamann Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17163804

* 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
Castlemont Elementary School Primary Charter 724 31 6
Monroe Middle School Middle Regular 884 39 5
Del Mar High School High Regular 1,108 49 6

Castlemont Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 31
6
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 39
5
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$4,981
Property Tax -$1,542
Property Insurance -$64
Property Management Fees -$137
CASH FLOW
-$3,223

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.

$1,350,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 11.8%
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-$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$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$154

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
  • $3,680

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,5003$3,6504$3,950
$3,950
RENT COMPS ANALYSIS
  • 2961 Williams Rd San Jose, CA 1
    • 4 beds 2 baths ∙ 1,525 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,525 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 914 S Baywood Ave San Jose, CA 2
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.37
    •  
  • Ribbon Dr San Jose, CA 3
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1958
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.61
    •  
  • 942 Lawton Ave San Jose, CA 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1961
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.26
    •  
PROPERTY LISTING DETAILS
Tricia Nardone
Intero Real Estate Services
BESbswy