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3303 Palantino Way San Jose, CA 95135

5 Beds 6 Baths 2,473 sqft Built 1997

$1,598,888

List Price

$4,240

$4K - $4.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $646.54
  • 3 Days on Market
  • MLS # : ML81821581
  • Updated Date : 11/28/2020 at 11:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,473 sqft
  • Baths : 3 full , 3 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Must See!! Original owners moving out of state! This is a lovely family home and well maintained. Cathedral ceiling in living room, 5 bedrooms,1 bedroom downstairs, permitted sunroom addition off the kitchen. Open kitchen and family room, open loft, newer carpets throughout, new paint throughout, dual pane windows, butler pantry w/ built in wine rack, security system, indoor laundry room, solar panels and more! ******Must make an appt!******

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chaboya

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $380k1665k

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

Neighborhood: Chaboya

NeighborhoodNIR Market*CityMarket2010Year20002019 Q220002200240026002800300032003400360038004000420044004600Rent in $19074673

* 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
Tom Matsumoto Elementary School Primary Regular 820 32 9
Chaboya Middle School Middle Regular 1,124 44 9
Evergreen Valley High School High Regular 2,763 104 10

Tom Matsumoto Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 32
9
GreatSchools Rating

Chaboya Middle School

  • Education Level: Middle
  • # of students: 1,124
  • # of teachers: 44
9
GreatSchools Rating

Evergreen Valley High School

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

$1,438,999$1,758,777$1,598,888

PURCHASE PRICE

$3,816$4,664$4,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,240
EXPENSES Loan Payment -$5,899
Property Tax -$1,919
Property Insurance -$87
Property Management Fees -$165
CASH FLOW
-$3,830

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.

$1,598,888

PROJECTED PRICE

$4,240

PROJECTED RENT

0.27%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.40%
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-$60k-$50k-$40k-$30k-$20k-$10k$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$429,455

INVESTMENT

$429,455

Down Payment
$399,722
Rehab Estimate
$5,750
Closing Costs
$23,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,899

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $399,722
Loan Amount $1,199,166
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,240

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $4,142

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,2403$4,700
$4,700
RENT COMPS ANALYSIS
  • 3303 Palantino Way San Jose, CA 2
    • 5 beds 6 baths ∙ 2,473 Sqft ∙ Built 1997 5 beds 6 baths ∙ 2,473 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $4,240
    • $1.71
    •  
  • 3406 Eldiva Ct San Jose, CA 1
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.67
    •  
  • 3124 Cortona Dr San Jose, CA 3
    • 5 beds 3 baths ∙ 2,798 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,798 Sqft ∙ Built 1998
    LEASED 05/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.68
    •  
PROPERTY LISTING DETAILS
Maria Stich
Intero Real Estate Services
BESbswy