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3234 Remington Way San Jose, CA 95148

4 Beds 2 Baths 2,119 sqft Built 1984

$1,399,800

List Price

$3,930

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $660.59
  • 3 Days on Market
  • MLS # : ML81819206
  • Updated Date : 11/07/2020 at 07:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,119 sqft
  • Baths : 2 full
Listing Agent

Nexthome Lifestyles

Listing Agent's Description

Welcome to a modern single level home in the beautiful Evergreen. This home features high vaulted ceilings, an abundance of natural lighting & an open floor plan, perfect for entertaining. The light & bright living room has high-end laminate flooring, gas insert fireplace, plenty of windows & recess lighting throughout. The kitchen features stainless steel appliances including a Samsung Flex refrigerator, granite countertops & custom-built cabinets. The master bedroom is spacious and offers a bonus room, a remodeled bathroom with a large walk-in shower, porcelain tile, large vanity with his and her sinks, a walk-in closet, & backyard access. All of the bedroom closets have custom made shelving. The backyard is unique and inviting, featuring newly stamped concrete, a covered pergola, a 90-inch projection screen & an organic vegetable garden. Close to the new Costco Business Center, shops & restaurants. Walking distance to award-winning schools! 3D Tour & Video taken w/ previous staging.

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: Norwood

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Norwood

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
Norwood Creek Elementary School Primary Regular 699 28 7
Quimby Oak Middle School Middle Regular 983 37 8
Evergreen Valley High School High Regular 2,763 104 10

Norwood Creek Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 28
7
GreatSchools Rating

Quimby Oak Middle School

  • Education Level: Middle
  • # of students: 983
  • # of teachers: 37
8
GreatSchools Rating

Evergreen Valley High School

  • Education Level: High
  • # of students: 2,763
  • # of teachers: 104
10
GreatSchools Rating
 

$1,259,820$1,539,780$1,399,800

PURCHASE PRICE

$3,537$4,323$3,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,930
EXPENSES Loan Payment -$5,165
Property Tax -$1,680
Property Insurance -$78
Property Management Fees -$153
CASH FLOW
-$3,146

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.

$1,399,800

PROJECTED PRICE

$3,930

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 5.3%
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-$50k-$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$376,697

INVESTMENT

$376,697

Down Payment
$349,950
Rehab Estimate
$5,750
Closing Costs
$20,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,165

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $349,950
Loan Amount $1,049,850
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$110

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
  • $4,174

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,7003$3,8004$3,950
$3,950
RENT COMPS ANALYSIS
  • 3234 Remington Way San Jose, CA 1
    • 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2922 Whittington Dr San Jose, CA 2
    • 5 beds 2 baths ∙ 1,805 Sqft ∙ Built 1967 5 beds 2 baths ∙ 1,805 Sqft ∙ Built 1967
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.05
    •  
  • 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
Sonia Vu
Nexthome Lifestyles
BESbswy