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3037 Manuel St San Jose, CA 95136

4 Beds 4 Baths 2,148 sqft Built 2020

$1,170,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $544.69
  • 2 Days on Market
  • MLS # : ML81823101
  • Updated Date : 12/12/2020 at 14:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,148 sqft
  • Baths : 3 full , 1 half
Listing Agent

Kb Home

Listing Agent's Description

A great opportunity to build a single family detached home and have choice in all of the design finishes! This plan 1 in our Promenade Community is a favorite layout and offers an optonal kitchen island, large family room with sliding door to balcony and dining room off kitchen also opens to balcony. The bedroom downstairs includes a private bath, master suite has tall ceilings and walk in closet. Laundry room conveniently located on third floor. Communications Hill is an exclusive area of all new homes surrounded by beautiful views, parks and trails. KB Home is an energy star rated builder offering new homes with warranty, energy efficiency and green features!

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: South San Jose

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: South San Jose

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17833804

* 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
Shirakawa Elementary School Primary Regular 871 34 6
Shirakawa Elementary School Middle Regular 871 34 6
Andrew P. Hill High School High Magnet 2,015 87 5

Shirakawa Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 34
6
GreatSchools Rating

Shirakawa Elementary School

  • Education Level: Middle
  • # of students: 871
  • # of teachers: 34
6
GreatSchools Rating

Andrew P. Hill High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 87
5
GreatSchools Rating
 

$1,053,000$1,287,000$1,170,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$4,317
Property Tax -$1,399
Property Insurance -$79
HOA -$127
Property Management Fees -$136
CASH FLOW
-$2,568

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.

$1,170,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 3.00%
Vacancy 4.28%
Length of Stay Years 2

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$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$312,050

INVESTMENT

$312,050

Down Payment
$292,500
Rehab Estimate
$2,000
Closing Costs
$17,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $292,500
Loan Amount $877,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$76

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
  • $4,038

    COMP ESTIMATED VALUE
  • $1.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,4003$3,4954$3,6005$3,950
$3,950
RENT COMPS ANALYSIS
  • 3037 Manuel St San Jose, CA 1
    • 4 beds 4 baths ∙ 2,148 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,148 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3445 Vittoria Pl 4 San Jose, CA 2
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2003
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.88
    •  
  • 206 Montalcino Cir San Jose, CA 3
    • 3 beds 4 baths ∙ 1,856 Sqft ∙ Built 2015 3 beds 4 baths ∙ 1,856 Sqft ∙ Built 2015
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.88
    •  
  • 353 Vista Roma Way San Jose, CA 4
    • 4 beds 3 baths ∙ 1,878 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,878 Sqft ∙ Built 2004
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.92
    •  
  • 293 William Manly St San Jose, CA 5
    • 4 beds 4 baths ∙ 2,148 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,148 Sqft ∙ Built 2017
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.84
    •  
PROPERTY LISTING DETAILS
Pam Munoz
Kb Home
BESbswy