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PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Santa Teresa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$310,500
LOAN DETAILS
$4,243
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $287,500 |
| Loan Amount | $862,499 |
-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
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- $3,600
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- Rent Per SQFT
- $3,880
- $2.12
PROPERTY LISTING DETAILS
Intero Real Estate Services
