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354 N 15th St San Jose, CA 95112

3 Beds 1 Baths 1,142 sqft Built 1924

$799,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1924
  • Price/Sqft : $699.65
  • 6 Days on Market
  • MLS # : ML81824591
  • Updated Date : 01/09/2021 at 10:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,142 sqft
  • Baths : 1 full
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Enjoy the San Jose Downtown lifestyle in this fabulous three bedroom, one bath gem of a home. It was built in 1924 with a clean and well-planned 1,142 sqft floor plan. This house gem will sell fast due to its proximity to the downtown lifestyle, shops, restaurants, Tech companies, and freeway access. Don't miss this opportunity whether you are buying for the first time or looking for an investment. This home can be the right fit for you for generations to come.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Northside

NeighborhoodNIR Market*CityMarket2010Year20002019400k500k600k700k800k900k1000k1100k1200kPrice in $307k1220k

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

Neighborhood: East Northside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21400160018002000220024002600280030003200340036003800Rent in $12063804

* 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
Empire Gardens Elementary School Primary Regular 438 17 3
Burnett Middle School Middle Magnet 877 45 3
San Jose High Academy High Magnet 1,034 51 4

Empire Gardens Elementary School

  • Education Level: Primary
  • # of students: 438
  • # of teachers: 17
3
GreatSchools Rating

Burnett Middle School

  • Education Level: Middle
  • # of students: 877
  • # of teachers: 45
3
GreatSchools Rating

San Jose High Academy

  • Education Level: High
  • # of students: 1,034
  • # of teachers: 51
4
GreatSchools Rating
 

$719,100$878,900$799,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,775
Property Tax -$892
Property Insurance -$55
Property Management Fees -$129
CASH FLOW
-$1,021

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.

$799,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.84%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,485

INVESTMENT

$217,485

Down Payment
$199,750
Rehab Estimate
$5,750
Closing Costs
$11,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,750
Loan Amount $599,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,599

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
  • $2,432

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8003$3,150
$3,150
RENT COMPS ANALYSIS
  • 354 N 15th St San Jose, CA 1
    • 3 beds 1 baths ∙ 1,142 Sqft ∙ Built 1924 3 beds 1 baths ∙ 1,142 Sqft ∙ Built 1924
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 275 S 22nd St San Jose, CA 2
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1915 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1915
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.14
    •  
  • 263 Washington St San Jose, CA 3
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1918
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.12
    •  
PROPERTY LISTING DETAILS
Julio Orozco
Intero Real Estate Services
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