Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3292 Jarvis Ave San Jose, CA 95118

4 Beds 2 Baths 1,307 sqft Built 1961

INVESTimate

$1,150,000

List Price

$3,610

$3,360 - $3,860

Rent Est.

$1,292,945  ( +12.43%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $879.88
  • 6 Days on Market
  • MLS # : ML81805993
  • Updated Date : 08/23/2020 at 21:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,307 sqft
  • Baths : 2 full
Listing Agent

Sereno Group

Listing Agent's Description

Lovingly updated single family home on a wonderful Valley View street. Seven year young roof and air conditioning unit, new windows, granite kitchen countertops, and bathrooms remodeled last year--this house has it all! Four generously sized bedrooms will suit your work from home needs, and the backyard provides ample space to enjoy through sheltering in place, plus an oversized garden bed to grow vegetables or whatever suits your fancy. Walk to Paul Moore Park if you need some fresh air during the work day, or just to wind down. Don't miss this charmer--it is sure to sell quickly!

SEE MORE

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: Valley View - Reed

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Valley View - Reed

NeighborhoodNIR Market*CityMarket2010Year20002019 Q22000220024002600280030003200340036003800400042004400Rent in $19074493

* 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
Reed Elementary School Primary Regular 513 21 7
Muir Middle School Middle Regular 1,118 51 6
Pioneer High School High Regular 1,570 67 9

Reed Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 21
7
GreatSchools Rating

Muir Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 51
6
GreatSchools Rating

Pioneer High School

  • Education Level: High
  • # of students: 1,570
  • # of teachers: 67
9
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

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$4.5M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$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$3.5M$4.0M$4.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$4,243
Property Tax -$1,284
Property Insurance -$59
Property Management Fees -$141
CASH FLOW
-$2,117

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.

$1,150,000

PROJECTED PRICE

$3,610

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 12.43%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
Length of Stay Years 2

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 80% 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 $862,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$41

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,610

    LIST RENT
  • $2.76

    LIST RENT PER SQFT
  • $3,705

    COMP ESTIMATED VALUE
  • $2.84

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,4503$3,610
$3,610
RENT COMPS ANALYSIS
  • 3292 Jarvis Ave San Jose, 3
    • 4 beds 2 baths ∙ 1,307 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,307 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $3,610
    • $2.76
    •  
  • 3119 Lowry Dr San Jose, 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1960
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.64
    •  
  • 3079 Ensalmo Ave San Jose, 2
    • 4 beds 2 baths ∙ 1,140 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,140 Sqft ∙ Built 1953
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $3.03
    •  
PROPERTY LISTING DETAILS
Elizabeth Powers
Sereno Group
BESbswy