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3089 Balgray Ct San Jose, CA 95148

3 Beds 3 Baths 1,889 sqft Built 1976

$998,888

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $528.79
  • 3 Days on Market
  • MLS # : ML81818423
  • Updated Date : 11/01/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,889 sqft
  • Baths : 3 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Looking for a home you can shelter-in-place & chill? If your spirit animal is Chip and Joanna Gains, bring your tool belt! This home is ideal for you. Located in Evergreen, this 3-bedroom with 3 full-bathroom home features a spacious backyard, fruit trees and pool! 2 fireplaces, a spacious family room with a skylight and dual paned windows. Located in a sought-after neighborhood, this home is close to academically performing schools and offers easy commutes to local employers. Close to shopping, public transportation, major freeways, and expressways. Visit the Virtual Tour here: www.3089balgrayct.com

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Everydale - Neimen

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: Everydale - Neimen

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
Holly Oak Elementary School Primary Regular 655 25 5
Holly Oak Elementary School Middle Regular 655 25 5
Silver Creek High School High Magnet 2,465 93 9

Holly Oak Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 25
5
GreatSchools Rating

Holly Oak Elementary School

  • Education Level: Middle
  • # of students: 655
  • # of teachers: 25
5
GreatSchools Rating

Silver Creek High School

  • Education Level: High
  • # of students: 2,465
  • # of teachers: 93
9
GreatSchools Rating
 

$898,999$1,098,777$998,888

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$3,685
Property Tax -$1,199
Property Insurance -$73
Property Management Fees -$131
CASH FLOW
-$1,718

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$998,888

PROJECTED PRICE

$3,370

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,455

INVESTMENT

$270,455

Down Payment
$249,722
Rehab Estimate
$5,750
Closing Costs
$14,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,685

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,722
Loan Amount $749,166
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$67

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
  • $3,702

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,2003$3,8004$3,950
$3,950
RENT COMPS ANALYSIS
  • 3089 Balgray Ct San Jose, CA 1
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3241 Rocky Water Ln San Jose, CA 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1984
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.02
    •  
  • 3115 Mosshall Way San Jose, CA 3
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1976
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.96
    •  
  • 3069 Wetmore Dr San Jose, CA 4
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1979
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.90
    •  
PROPERTY LISTING DETAILS
Shawneequa Badger
Intero Real Estate Services
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