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345 Macarthur Ave San Jose, CA 95128

3 Beds 2 Baths 1,265 sqft Built 1945

INVESTimate

$999,000

List Price

$3,600

$3,350 - $3,850

Rent Est.

$1,137,861  ( +13.90%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1945
  • Price/Sqft : $789.72
  • 2 Days on Market
  • MLS # : ML81806547
  • Updated Date : 08/25/2020 at 07:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,265 sqft
  • Baths : 1 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Great Location!!! Don't miss the chance to get into the "Burbank" neighborhood! 3 Bedrooms, 1.5 Bathrooms, Garage converted into a living area. Large backyard-Ready for your dream landscaping! Close to Shopping, Restaurants, Valley Fair, Santana Row, Valley Medical, SJ City College, Apple, Google campus, and Freeways, easy access to 880 & 280 Freeways and HWY 17. Schedule your private showing appointment today!

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: Burbank

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $292k1220k

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

Neighborhood: Burbank

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2160018002000220024002600280030003200340036003800Rent in $14503804

* 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
Lynhaven Elementary School Primary Charter 595 26 3
Monroe Middle School Middle Regular 884 39 5
Del Mar High School High Regular 1,108 49 6

Lynhaven Elementary School

  • Education Level: Primary
  • # of students: 595
  • # of teachers: 26
3
GreatSchools Rating

Monroe Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 39
5
GreatSchools Rating

Del Mar High School

  • Education Level: High
  • # of students: 1,108
  • # of teachers: 49
6
GreatSchools Rating
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,240$3,960$3,600

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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$3,686
Property Tax -$1,111
Property Insurance -$58
Property Management Fees -$140
CASH FLOW
-$1,395

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$999,000

PROJECTED PRICE

$3,600

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 13.90%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,655

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
  • $3,622

    COMP ESTIMATED VALUE
  • $2.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,1003$3,8004$3,985
$3,985
RENT COMPS ANALYSIS
  • 345 Macarthur Ave San Jose, 1
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1945
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2524 Fernwood Ave San Jose, 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1952
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.70
    •  
  • 623 Pineview Dr San Jose, 3
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1953
    property image
    LEASED 03/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $3.04
    •  
  • 3314 Lindenoaks Dr San Jose, 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
    property image
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,985
    • $2.85
    •  
PROPERTY LISTING DETAILS
Mariana Fernandez
Intero Real Estate Services
BESbswy