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3065 Fruitdale Ave San Jose, CA 95128

3 Beds 2 Baths 1,508 sqft Built 1953

$1,475,000

List Price

$3,740

$3.5K - $4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $978.12
  • 3 Days on Market
  • MLS # : ML81825014
  • Updated Date : 01/08/2021 at 20:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 1 full , 1 half
Listing Agent

Crema Properties

Listing Agent's Description

Spacious home, with 3 bedrooms, 1 full bathroom and 1 half bath. Large private rear yard has a storage shed and a perfect spot to build an ADU or a Home Office, with power already there. Home has a open floor plan with kitchen, living room and eating area. Kitchen has been updated with granite slab counters, custom cabinets, high end stainless gas cook-top, double door refrigerator, tons of storage space. Home has recessed and indirect lighting throughout. Living room with wood burning fireplace, vaulted ceilings and floor to ceiling windows. The large rear yard features wood deck perfect for outdoor entertaining. Location is convenient to 280/880 for easy access to Apple and all the other high tech campuses. Close to Santana Row, Valley Fair Mall.

SEE MORE

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
 

$1,327,500$1,622,500$1,475,000

PURCHASE PRICE

$3,366$4,114$3,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,740
EXPENSES Loan Payment -$5,123
Property Tax -$1,684
Property Insurance -$64
Property Management Fees -$146
CASH FLOW
-$3,277

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.

$1,475,000

PROJECTED PRICE

$3,740

PROJECTED RENT

0.25%

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$396,625

INVESTMENT

$396,625

Down Payment
$368,750
Rehab Estimate
$5,750
Closing Costs
$22,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $368,750
Loan Amount $1,106,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,740

    LIST RENT
  • $2.48

    LIST RENT PER SQFT
  • $3,876

    COMP ESTIMATED VALUE
  • $2.57

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6503$3,7404$3,8005$3,950
$3,950
RENT COMPS ANALYSIS
  • 3065 Fruitdale Ave San Jose, CA 3
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,740
    • $2.48
    •  
  • 914 S Baywood Ave San Jose, CA 1
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.37
    •  
  • Ribbon Dr San Jose, CA 2
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1958
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $2.61
    •  
  • 623 Pineview Dr San Jose, CA 4
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953
    property image
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.04
    •  
  • 942 Lawton Ave San Jose, CA 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1961
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.26
    •  
PROPERTY LISTING DETAILS
Patrick Crema
Crema Properties
BESbswy