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324 Marti Way San Jose, CA 95136

4 Beds 3 Baths 2,209 sqft Built 1972

$1,250,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $565.87
  • 3 Days on Market
  • MLS # : ML81823606
  • Updated Date : 12/18/2020 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Gorgeous home on a corner lot with an ADU! Two-story, 2200 sqft of living space with 4 bedrooms and 3 newly-remodeled bathrooms in the main house. The backyard tiny home has a kitchenette, full bath, lofted bedroom and living space with a dedicated entrance. Lot size is over 6,000 sf. The open floor plan boasts separate living and family rooms, plus a mezzanine for study or meditation. All finishes are in new condition: recently painted interior and exterior, new flooring, new appliances and fixtures. Kitchen has marble countertops and commercial-grade range (Viking). Appliances are stainless finish. Windows Double-pane throughout. Master bedroom has private office or mediation space. Additional exterior features include covered back patio, updated irrigation system and permeable pavers in large, 3+ vehicle driveway, or 2 vehicles plus RV. Upgraded electrical service, new copper plumbing, new high-efficiency furnace, air-conditioner, whole house fan and solar panels.This is a must see!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $373k1220k

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

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q218002000220024002600280030003200340036003800Rent in $17803804

* 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
Parkview Elementary School Primary Regular 603 22 6
Parkview Elementary School Middle Regular 603 22 6
Andrew P. Hill High School High Magnet 2,015 87 5

Parkview Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 22
6
GreatSchools Rating

Parkview Elementary School

  • Education Level: Middle
  • # of students: 603
  • # of teachers: 22
6
GreatSchools Rating

Andrew P. Hill High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 87
5
GreatSchools Rating
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$4,612
Property Tax -$1,506
Property Insurance -$80
HOA -$35
Property Management Fees -$158
CASH FLOW
-$2,341

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.

$1,250,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 13.3%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$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$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$15

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
  • $4,175

    COMP ESTIMATED VALUE
  • $1.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,700
$3,700
RENT COMPS ANALYSIS
  • 324 Marti Way San Jose, CA 1
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5682 Taconic Ct San Jose, CA 2
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 1973
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.89
    •  
PROPERTY LISTING DETAILS
Georgina Cuellar
Coldwell Banker Realty
BESbswy