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313 El Portal Way San Jose, CA 95119

3 Beds 2 Baths 1,677 sqft Built 1968

$1,149,999

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $685.75
  • 3 Days on Market
  • MLS # : ML81824031
  • Updated Date : 12/25/2020 at 01:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,677 sqft
  • Baths : 2 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Exquisitely updated one story home with sought after Rancho Santa Teresa Swim and Racquet Club Membership. If you have young children, like to play tennis or sand volleyball you will LOVE this affordable exclusive amenity. https://ranchosantateresa.wildapricot.org This home offers a natural flow, abundance of natural light, spacious chefs kitchen with upgraded stainless appliances, plentiful counter space, a layout designed for entertaining, and updated bathrooms. For those that work from home there is a 120 PRIVATE detached office with power in the backyard. The covered outdoor patio area adjacent to the kitchen and dining makes a perfect spot for outdoor entertaining or weekend brunch overlooking the spacious backyard. The lush landscaping of this home will make you feel as though you are in the tropics. Assigned sought after Santa Teresa High School and walking distance to Santa Teresa Elementary! Showings ALL WEEKEND 12/25-12/28 By Appointment 9am-9pm

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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: Rancho Santa Teresa

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Rancho Santa Teresa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17853804

* 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
Santa Teresa Elementary School Primary Regular 646 24 7
Bernal Intermediate School Middle Regular 807 36 7
Santa Teresa High School High Magnet 2,306 89 9

Santa Teresa Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 24
7
GreatSchools Rating

Bernal Intermediate School

  • Education Level: Middle
  • # of students: 807
  • # of teachers: 36
7
GreatSchools Rating

Santa Teresa High School

  • Education Level: High
  • # of students: 2,306
  • # of teachers: 89
9
GreatSchools Rating
 

$1,034,999$1,264,999$1,149,999

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$4,243
Property Tax -$1,388
Property Insurance -$68
HOA -$400
Property Management Fees -$131
CASH FLOW
-$2,879

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.

$1,149,999

PROJECTED PRICE

$3,350

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.2%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$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$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,499
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $2

    LIST RENT PER SQFT
  • $3,736

    COMP ESTIMATED VALUE
  • $2.23

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,6003$3,6004$3,6005$3,880
$3,880
RENT COMPS ANALYSIS
  • 313 El Portal Way San Jose, CA 1
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.00
    •  
  • 186 Herlong Ave San Jose, CA 2
    • 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 1966
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.16
    •  
  • 428 Sautner Dr San Jose, CA 3
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1968
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.26
    •  
  • 283 Dondero Way San Jose, CA 4
    • 4 beds 2 baths ∙ 1,516 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,516 Sqft ∙ Built 1970
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $2.37
    •  
  • 6373 Pearlroth Dr San Jose, CA 5
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 1976
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,880
    • $2.12
    •  
PROPERTY LISTING DETAILS
Tony Alarcon
Intero Real Estate Services
BESbswy